Construction firm’s revenues and profits drop

GRAHAM, one of the UK and Ireland’s leading construction, facilities management and project investment businesses, has seen its revenues  and pre-tax profits fall; as the firm says it stabilises and prepares for sustainable growth.

For the financial year ending March 31 2019, revenues stood at £735m, down from £767.5m in the previous year; after a number of consecutive years of growth. The group also posted a pre-tax profits of £8.2m, dropping from £13.1m last year.

The  company, which opened its Leeds base in 2017, specialises in building, civil engineering, interior fit-out, facilities management and investment projects. It said the firm remained profitable across all of its divisions, demonstrating its diversification and “balanced sector profile.”

Michael Graham, GRAHAM Group Executive Chairman, said: “GRAHAM continues to be in a strong financial position. First and foremost, these latest accounts indicate stability, particularly as we recorded profits across all of our divisions. This will provide us with a solid platform to continue to grow sustainably.

“We have also produced a healthy balance sheet, with strong cash balances of £63m and no trading debt. Our intent is to continue to invest in the balance sheet to ensure that we can be selective about the projects we work on and the partners we work with.

“Our focussed approach to work winning has accounted for our current order book of £1.2bn together  with a strong presence in multiple frameworks, which will help maintain the Group’s healthy balance between public and private work.

“This leaves us well placed for 2020 with strong levels of secured work, and a forecast revenue of £875m.”