GRAHAM’s revenue growth exceeds £1bn

In recently published accounts, ‘strong performance’ sees GRAHAM’s revenue growth surpasses the £1bn turnover milestone.

GRAHAM's site team. The Group's revenue growth surpasses the £1bn turnover milestone | BTR News
GRAHAM's site team. The Group's revenue growth surpasses the £1bn turnover milestone.

National contractor and developer GRAHAM generated revenue of £1.094bn following the successful delivery of major projects across its core market sectors: building, civil engineering, interior fit-out, facilities management and development management.

The figure is a 15.3% increase on the Group’s 2022 results (£948.3m in 2022). Cash at bank and in hand also increased to £177.1m – a 28% rise (£127.1m in 2022), while profit before tax was recorded at £15.1m. Looking ahead, GRAHAM is in a strong position with a record pipeline of £2bn. 

Underlining the scale, scope and quality of GRAHAM’s national portfolio is the delivery of high-profile projects. These include the transformative Buchanan Wharf mixed-use scheme in Glasgow, the University of York’s 1,480- bed student accommodation scheme in York, the Poynton Relief Road in Cheshire, Imperial College London’s new School of Public Health, and a nationwide modernisation programme for Marks & Spencer (National).

GRAHAM’s strong balance sheet position has enabled the company 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.

GRAHAM’s Group Chief Executive Officer emphasises the strong governance and commercial management behind the Group’s latest performance.

“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.”

Andrew Bill, Group Chief Executive Officer, GRAHAM

Complementing the balance sheet, GRAHAM’s track record for ‘delivering lasting impact’ is evidenced in the £379.9m Social Return on Investment (SROI) the company has delivered for communities across the UK and Ireland.

As a responsible, sustainable business, the Group’s drive to Net Zero also ensured a 13% reduction in scope 1 and 2 emissions.

Through a robust programme of training and development, the company has also continued to heavily invest in its people. Investors in People has reaccredited GRAHAM as a Platinum standard organisation.

The National Centre for Diversity also awarded the business with the Investors in Diversity standard due to the company’s inclusive and fair workplace culture. Reinforcing diversity and inclusion ambitions, GRAHAM also employed 16 people from non-traditional routes into construction earlier this year.

Most recently (4 July 2023), the Group was named as the Digital Contractor of The Year at the prestigious Digital Construction Awards, in recognition of its commitment to innovation and tech transformation. The national awards celebrate the most pioneering projects, teams, and individuals who champion ‘innovation and technology in the built environment’ across the UK.

“At GRAHAM, we work to a set of values that we call ‘the GRAHAM Way’. This is about our unique culture and a commitment to fairness, inclusion and respect. Our people are the real force behind these latest figures, and I would like to thank them, our supply chain and subcontractors for their ongoing commitment. They continue to innovate, drive industry change through the use of modern methods of construction, and strive for excellence, which, collectively, is the platform for our strong performance.”

Andrew Bill, Group Chief Executive Officer, GRAHAM

This year, GRAHAM topped out at the Miller’s Quay Build to Rent development, and is starting works on Legal & General’s Loft Lines Build to Rent scheme in Belfast. Legal & General and Clanmil agreed to forward fund the scheme last month.