THE Co Down construction group Graham has surpassed £1 billion in revenue for the first time.
The Hillsborough-based contractor and developer generated revenue of £1.094bn for the year ending March 31 2023, 15.3 per cent up on its income from 2022 (£945.3m).
The company said it followed the successful delivery of major projects across its core market sectors, including building, civil engineering, interior fit-out, facilities management and development management.
However, Graham said inflationary pressure hit its profitability, resulting in a 20 per cent drop in its annual pre-tax profit, which fell from £19m in 2022 to £15.1m in the latest financial year.
But, the latest accounts for the building giant, showed its cash reserves remained extremely healthy, rising by 28 per cent to £177.1m in the bank.
Although headquartered in Hillsborough, Graham employs around 2,200 people across 17 locations spread throughout Britain and Ireland.
Locally, it is currently on site at the £48 million student accommodation scheme on Belfast’s Nelson Street for Holywood-based Lacuna Developments and South Carolina-based Greystar.
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It will add a further 774-units to the growing student accommodation portfolio being built around Ulster University’s new York Street campus.
Graham is also due to start work on the massive Loft Lines residential project next to Titanic Belfast, which involves more than 700 waterside units.
The Hillsborough group has also landed the £44m contract for the second phase of Belfast Harbour Studios and the contract for Down High School’s new £33m building in Downpatrick.
In Britain, the latest reporting period for Graham includes the Buchanan Wharf mixed-use scheme in Glasgow; the University of York’s 1480-student accommodation residences in York; the Poynton Relief Road in Cheshire; and Imperial College London’s new School of Public Health.
Graham is also carrying out a UK-wide modernisation programme for Marks & Spencer.
Looking forward, the group said it has a record pipeline of work worth around £2bn.
Group chief executive, Andrew Bill, said the 2023 results “demonstrate a strong performance” in the Co Down group’s core markets.
“This has been achieved despite the complexity of the current inflationary environment and other notable external factors,” he said.
“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.”
