Graham has hailed its newest monetary outcomes as a “sturdy efficiency” after reporting nearly similar income and revenue figures to its previous year.
The contractor’s turnover elevated by 2.8 per cent to £1.13bn within the 12 months to 31 March 2024, whereas its pre-tax revenue slipped by £300,000 to £14.8m. Graham’s revenue margin due to this fact decreased barely, from 1.38 to 1.32 per cent.
In its audited outcomes printed this week, Graham stated the outcomes had been “sturdy” given its newest monetary 12 months “noticed continued inflationary pressures positioned on the enterprise”.
It added: “Greater borrowing prices and evolving regulatory and legislative environments have led to a slowdown in deliberate begin dates for main development tasks whereas impacting upon contractor profitability.”
The group stated that whereas contractors are “very delicate to increased borrowing prices” as a result of tight margins, it has elevated its internet money place by £26m to £177m over the previous 12 months and is ready to “function by way of the money reserves which have been constructed up”.
The corporate’s common variety of employees elevated by 10 throughout its previous monetary 12 months, to 2,352, whereas the quantity spent on administrators fell from £2.2m to £1.5m, with the best-paid director receiving remuneration value £608,000.
Graham’s chief govt Andrew Invoice stated: “The most recent printed accounts for the group are pleasing and underline the sturdy efficiency of every of our divisions inside our core market sectors.
“We prioritise strong governance and business administration, that are the spine of our sustainable progress mannequin. Considerably, the continued success of the group has been achieved regardless of world financial uncertainty and inflationary pressures.
“The market has been difficult however our constant deal with high quality supply and dedication to securing repeat enterprise by way of the event of collaborative consumer relationships have allowed us to develop sustainably over the previous 12 months.
“Wanting ahead, we’ve developed a major pipeline of alternative to permit us to positively strategy the following 12 months and past with vitality and optimism.”
