GRAHAM posts record profit as new chief executive named

Group revenue rose 16% to £1.23 billion, up from £1.06bn the year before. Profit before tax grew even faster, climbing 42% to £35.8 million, while gross profit reached £88.5m.

The company’s balance sheet also strengthened over the period. Cash and cash equivalents rose to £260.7m, and net assets increased to £113.7m. GRAHAM said it had maintained low external debt and substantial liquidity throughout the year.

The group attributed the improved results to strong trading across its five main divisions — Building, Civil Engineering, Interior Fit-Out, Facilities Management and Investment — supported by careful project selection, operational discipline and sustained investment in client relationships.

The year’s standout contract was a £286m redevelopment of Cambridge Halls, undertaken with UNITE Students and Manchester Metropolitan University. The scheme will deliver more than 2,300 student bedrooms and is targeting a BREEAM “Excellent” sustainability rating.

GRAHAM also deepened its footprint in the education sector by joining the Department for Education’s £15bn CF25 Construction Framework, and picked up further work with the University of East London, Loughborough University and multiple school redevelopment programmes.

In healthcare, the group secured a place on the Hospital 2.0 Alliance Framework, positioning it to help deliver the next wave of NHS infrastructure under the government’s New Hospital Programme.

GRAHAM’s Civil Engineering arm had a strong year of its own, winning the £71m Central Docks Infrastructure Scheme at Liverpool Waters and securing a place on National Highways’ £968 million Legacy Concrete Roads Reconstruction Framework, a deal the company says cements its growing reputation in major infrastructure delivery.

The business also pushed further into the Republic of Ireland, winning the BusConnects Core Bus Corridor Scheme in Dublin. GRAHAM said the contract would establish a permanent presence for the group in the Irish capital to support future growth.

Elsewhere, the Interior Fit-Out division delivered more than £100m of work during the year, including new commissions from Nike and HSBC, while GRAHAM Asset Management grew its facilities and asset management business through partnerships with the Royal Borough of Kensington and Chelsea and London Metropolitan University. The group also secured planning approval for a 446-bed student accommodation scheme at Hydepark Street in Glasgow.

Alongside the results, GRAHAM confirmed a change at the top. Chief executive Andrew Bill will retire on 31 August 2026 after more than four decades with the company, as part of a planned succession process.

He will be succeeded on 1 September by Courtney McCormick, currently group chief financial officer, a role he has held for the past 12 years since joining GRAHAM 18 years ago.

Chairman Michael Graham paid tribute to Bill’s “exceptional contribution” to the business, thanking him for his “dedication, leadership and commitment over many years.” Of McCormick’s appointment, he said the incoming chief executive “has been instrumental in shaping the business we are today and brings extensive leadership, commercial and strategic experience to the role.”

Group chief operating officer Jonathan Hall said the year’s results reflected “the strength and resilience” of the business, adding that the quality of projects and frameworks won during the year gave the group “excellent visibility” and confidence going forward.

McCormick, for his part, said the results reflected “the outstanding commitment of our people and the trust our clients place in us every day,” and pointed to strong momentum across all of GRAHAM’s business units heading into the transition.

GRAHAM said it enters its next phase with a strong balance sheet, significant liquidity and a growing order book, positioning it to pursue sustainable long-term growth across its markets in the UK and Ireland.