Scottish projects lift GRAHAM turnover to £1 billion and profits to £15 million

Scottish projects lift GRAHAM turnover to £1 billion and profits to £15 million

Pictured: Andrew Bill, GRAHAM's group chief executive officer

A number of major Scottish projects helped contractor and developer GRAHAM achieve a 15 per cent increase in revenue to nearly £1.1 billion in 2022/23, according to its latest financial results.

The company generated revenue of £1.094bn, up from £948.3 million in the previous year. Cash at bank and in hand also increased to £177.1m – a 28% rise from £127.1m – while profit before tax was recorded at a healthy £15.1m.

GRAHAM’s Building North region, which encompasses sites across Scotland, the north of England and Northern Ireland, was a major contributor to the company’s results, with highlights including:

  • the completion of Glasgow’s Buchanan Wharf development including the handover of Building 6 – the new Student Loans Company HQ – and completion of extensive public realm at the Barclays Campus, and the new Solasta Riverside build-to-rent (BTR) complex;
  • the construction of £181m of BTR developments in Glasgow and Edinburgh for developer PLATFORM_ and a £62m BTR development at Candleriggs Square on behalf of Drum Property Group;
  • input into high-profile NHS Frameworks, which will deliver modern, innovative change across Scotland’s healthcare estates;
  • the completion of the £33m Fife Orthopaedics facility on behalf of NHS Fife which became the first National Treatment Centre in Scotland; and
  • the completion of the £12.5m RIAS award-winning Laidlaw Music Centre at the University of St Andrews, and the £47m Meadowbank Sports Centre in Edinburgh.

Looking forward, the group said it is in a strong position with a record pipeline of £2bn.

Andrew Bill, GRAHAM’s group chief executive officer, said: “We are very pleased with these latest published accounts, which demonstrate a strong performance in our core markets. This has been achieved despite the complexity of the current inflationary environment and other notable external factors. Strong governance and commercial management are at the heart of our approach to sustainable growth.

“We focus on quality delivery and take pride in our record for securing repeat business and the development of collaborative client relationships. The adoption of a pragmatic and selective approach to work winning, built on a platform of risk management, allows us to positively approach the rest of 2023 and beyond.

“With a significant pipeline of opportunity, which is strong in both volume and quality, we look forward to the future with continued optimism.”

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