GRAHAM RECORDS STRONG FINANCIAL PERFORMANCE FOR 2020
GRAHAM has reported growth in revenue to £853.3 million in its latest published accounts for the financial year (up to 31st March 2020). The headline figure represents a 16% increase on the privately-owned contractor’s previous performance for the same period in 2019 (£735 million). The company has also posted an £11.3 million profit before tax, which is a 38% rise on 2019 (£8.2 million), and has recorded a £10m improvement in cash at bank and hand (£72.9 million).
Each GRAHAM division, categorised into building, civil engineering, interior fit-out, facilities management, and investment projects, has remained profitable throughout this accounting cycle.
GRAHAM Group Executive Chairman, Michael Graham, praised the collective efforts of the 2,000-strong workforce for the strong financial performance. He said: “It has been a particularly challenging year given the unprecedented uncertainty arising from Covid-19 and Brexit. Market conditions are also extremely competitive. Against this backdrop, it has been particularly satisfying to record a rise in revenue to £853.3m and a profit before tax figure of £11.3m in our latest accounts. This is only possible because of the hard work and dedication of our teams. So too, our divisional strength, sectoral expertise and regional presence provide a well-balanced service offering. Undoubtedly, difficult challenges remain on the horizon, but this solid financial platform positions us well to look forward with confidence.”
Moving into 2021, GRAHAM has a record order book and a healthy £1.8 billion pipeline of opportunity. Notable projects include the construction of the Baird Family Hospital and the ANCHOR Centre (£161 million) in Aberdeen, the continued development of student accommodation at the University of York (£140 million), and the design and build of Phase One of Eton College’s new indoor sports facilities. The £26.5 million Poynton Relief Road highways scheme, and the interior fit-out of The Hut Group’s new headquarters in Manchester (£16.5 million), are further high-profile projects under way, while the GRAHAM FM team continues to provide a range of essential services to leading clients such as Severn Trent Water.
Denise Maguire Editor of Irish Construction Industry Magazine