Developer surpasses £1bn turnover milestone for second consecutive year – Scottish Business News

GRAHAM has surpassed the £1bn turnover milestone for the second consecutive year as revenue
increased to £1.125bn.

The headline figure from recently published accounts (year ending 31st March 2024) is a 2.8% increase on the Group’s 2023 results (£1.093.7bn).

The leading national contractor and developer also recorded profit before tax of £14.8m and
maintained its robust balance sheet position with cash at bank and in hand of £151m.

This “strong performance” in the face of well documented inflationary pressures and significant
economic and geopolitical headwinds followed the successful delivery of major projects in each of its
core market sectors (building, civil engineering, interior fit-out, facilities management and
development management).

Across the wider industry, higher borrowing costs and the evolving regulatory and legislative
environments have led to a slow down in planned start dates for major construction projects while
impacting upon contractor profitability. To offset many of these challenges, the Group has focussed on
a sustainable growth model built on the platform of strategic supply chain management and selective
work winning.

This approach has resulted in a record pipeline of secured work in excess of £2bn.
Commenting on the latest accounts, Andrew Bill, GRAHAM Group Chief Executive Officer, said:
“The latest published accounts for the Group are pleasing and underline the strong performance of
each our divisions within our core market sectors. We prioritise robust governance and commercial
management which are the backbone of our sustainable growth model. Significantly, the continued
success of the Group has been achieved despite global economic uncertainty and inflationary
pressures. The market has been challenging but our consistent focus on quality delivery and
commitment to securing repeat business through the development of collaborative client relationships
have allowed us to grow sustainably over the past year. Looking forward, we have developed a
significant pipeline of opportunity to allow us to positively approach the next 12 months, and beyond,
with energy and optimism.”

The scale, scope and variety of GRAHAM’s national portfolio have been central to its continued strong
financial performance. Projects such as Candleriggs, a 346 unit Build to Rent development in Glasgow
(£81.5m), improvement works to the M25 Junction 28 in Essex (£154m), the interior fit-out of BT’s new
76,000 sq. ft. offices in Dundee and the restoration of the historic Cathays Grade II Listed Library for
Cardiff Council underline the breadth of its expertise.

At Lord’s Cricket Ground, the iconic home of cricket, the company has also been named as the
preferred bidder for an iconic redevelopment project encompassing the Tavern and Allen Stands, while
it recently secured planning consent for a transformative regeneration project at Meadowbank in
Edinburgh that will see the development of over 700 much-needed homes – over 35% of which will be
affordable – across a five-hectare site that will create one of the city’s “greenest neighbourhoods”.

Beyond the balance sheet figures, GRAHAM’s track record for “delivering lasting impact” is evidenced
in the £538.4m Social Return on Investment (SROI) it has delivered for communities across the UK and
Ireland.

As a responsible, sustainable business, the Group’s drive to Net Zero has also resulted in a 19%
absolute reduction in Scope 1 and 2 carbon emissions and the achievement of a 98% rate for the
diversion of construction waste from landfill.

GRAHAM continues to make substantial investments in the skills and development of its people and
supply chain with a robust training program that provides five days of training per person each year.
Notably, GRAHAM was the first UK organisation to achieve Investors in People (IIP) “We invest in
Wellbeing Platinum” status this year. Additionally, IIP reaccredited GRAHAM with “We invest in People
Platinum” for the third time—an achievement attained by only 5% of organisations across all
industries. Most recently, GRAHAM earned the “Investor in Diversity Gold” award and secured the
29th position among the Top 100 Equality, Diversity, and Inclusion companies in the UK.

Attributing the continued success of the business to the concerted efforts of the 2,500-strong
workforce, Andrew, added:
“The ongoing growth of GRAHAM is due to the hard work and dedication of our people, both on site
and those in central support services. Individually and collectively they embody ‘The GRAHAM Way’
which is the unique culture that sets us apart. On a daily basis they continue to build lasting
relationships with clients, innovate in our approach to delivery, and strive for excellence, which, as a
package, is the bedrock behind the strong financial figures published within these latest accounts.”

For more information on GRAHAM, please visit: www.graham.co.uk