The Hillsborough-based contractor and developer recorded a 15.3% increase in revenue compared to 2022, while also reporting a 28% increase in 'cash at bank and in hand', totalling £177.1 million.
This strong balance sheet position has enabled GRAHAM to further improve its supply chain management and supplier payment statistics and to continue to invest in the training and development of its 2,200+ staff cohort.
Profitability has been impacted by well-publicised inflationary pressures facing the wider economy. However, the business continues to mitigate these risks through a strategic approach to partnership working, particularly with a growing number of repeat clients. This model promotes collaboration, quality delivery and cost certainty throughout the supply chain.
The delivery of high-profile projects, including the transformative Buchanan Wharf mixed-use scheme (Glasgow), the University of York's 1480-student accommodation residences (York), the Poynton Relief Road (Cheshire), Imperial College London's new School of Public Health (London) and a nationwide modernisation programme for Marks & Spencer (National), underline the scale, scope and quality of GRAHAM's national portfolio.
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In Northern Ireland, GRAHAM is also completing a number of major schemes, notably the largest private sector investment in housing at Loft Lines (Titanic Quarter), which will see the creation of 778 new homes. Further headline projects include the £44m second phase of Belfast Harbour Studios (Belfast Harbour), Down High School's new £33m school to accommodate 950 pupils (Downpatrick), a 12-storey 774-bedroom student accommodation block (Nelson Street), the Busway Bridge Works for the Belfast Transport Hub (Great Victoria Street/Grosvenor Road) and multiple projects for NI Water (Regional).
Looking forward, GRAHAM is in a strong position with a record pipeline of £2bn.
Commenting on the recently published accounts, Andrew Bill, GRAHAM Group Chief Executive Officer, emphasised the "strong governance and commercial management" behind the Group's latest performance.
He said: "We are very pleased with these latest published accounts, which demonstrate a strong performance in our core markets. This has been achieved despite the complexity of the current inflationary environment and other notable external factors. Strong governance and commercial management are at the heart of our approach to sustainable growth. We focus on quality delivery and take pride in our record for securing repeat business and the development of collaborative client relationships. The adoption of a pragmatic and selective approach to work winning, built on a platform of risk management, allows us to positively approach the rest of 2023, and beyond. With a significant pipeline of opportunity, which is strong in both volume and quality, we look forward to the future with continued optimism."
GRAHAM has continued to heavily invest in the skills and development of its people through a robust programme of training and development. Investors in People has reaccredited the Group as a Platinum standard organisation while the National Centre for Diversity awarded the business with the Investors in Diversity standard due to the inclusive and fair culture within the workplace.
