Annual turnover at John Graham Holdings Ltd has topped £1bn for the first time, but pre-tax profit fell by a fifth amid inflationary pressures.
In its accounts for the year to the end of March 2023, Graham reported a turnover of £1.1bn, up 15% on the 2022 figure (£948m).
Pre-tax profit was £15.1m, down 21% on the previous year’s £19.0m.
Commenting on the results, the Northern Ireland-based firm said: “Profitability has been impacted by the well-publicised inflationary pressures facing the wider economy.”
It is mitigating those risks through “a strategic approach to collaborative work, particularly with a growing number of repeat customers,” which it said promotes cost certainty in the supply chain.
The firm said the “scale, scope and quality” of its work was evidenced by completed projects such as the Buchanan Wharf mixed-use scheme in Glasgow, a campus housing 1,480 students in the University of York and the public school of Imperial College London. Health.
This year, Graham won work on a £155m residential scheme in Belfast and secured several sites in a £4.5bn framework covering southern England.
In their strategic report, Graham’s directors said the company had “strong levels of secured work and a strong pipeline of opportunities in both volume and quality”.
Cash in the bank and on hand rose 28 per cent to £177m and the company has a “record pipeline” worth £2bn.
Group chief executive Andrew Bill said: “We are very pleased with these latest published accounts, which demonstrate strong performance in our core markets. This has been achieved despite the complexity of the current inflationary environment and other external factors remarkable”.
Bill added: “Taking a pragmatic and selective approach to winning work, based on a risk management platform, allows us to positively approach the remainder of 2023 and beyond. With a significant portfolio of opportunities, which is strong in both volume and quality, we look forward to the future with continued optimism.”
