Graham reports strong start to 2020 with a record £1.8bn of projects in the pipeline
CO Down construction group Graham has posted a 38 per cent rise in pre-tax profit to £11.3 million.
The Hillsborough-based company, which employs around 2,000 people, reported another year of steady growth right up to the start of the Covid-19 lockdown at the end of March.
Group turnover rose 16 per cent to £853.3m for the 12 months ending March 31 2020.
Graham said each of its into building, civil engineering, interior fit-out, facilities management, and investment divisions remained profitable over the reporting period.
The group also reported a £10m improvement in cash at bank and hand (£72.9m).
Executive chairman Michael Graham said the results were satisfying amid the challenges and uncertainty posed by both Covid-19 and Brexit.
“This is only possible because of the hard work and dedication of our teams,” he said.
“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.”
The group's order book now has a record £1.8bn of projects in the pipeline.
Those include the construction of the Baird Family Hospital and the Anchor Centre (£161m) in Aberdeen; the continued development of student accommodation at the University of York (£140m), and the design and build of phase one of Eton College’s new indoor sports facilities.
“We remain focused on quality projects rather than chasing revenue,” said the executive chairman.
“Our strategic approach to work winning has accounted for an exceptionally strong pipeline. This leaves us well placed for 2021 with strong levels of secured work.”