Graham sees 71% increase in profit

Contractor Graham has seen its pre-tax profit soar by 71 per cent although revenue fell.

In its latest accounts to 31 March 2025, published today, John Graham Holdings Limited recorded pre-tax profit of £25.2m compared to £14.8m the previous year.

Its turnover dipped 6 per cent, from £1.13bn to £1.06bn.

However, its cash at bank rose to £192.5m from £150.9m.

A statement in its accounts attributed its performance to “disciplined contract selection, robust commercial management, and a focus on long-term value creation”.

The year saw Graham, which ranked 21st in the CN100 2024 table of top contractors, secure a number of high-profile project wins across its construction, facilities management and investment divisions.

These included the £90 million D3 Deep-Water Terminal for Belfast Harbour Commissioners, a £630m contract for residential developments in Belfast and a £124.5m contract to create student accommodation in Glasgow.

It was also awarded work by the Department of Education to deliver a number of school projects across England as part of the UK government’s School Rebuilding Programme.

Other notable awards included a £100m mixed-use development in Leeds for Latimer – which is one of the first high rise buildings to achieve Gateway 2 approval from the Building Safety Regulator – and inclusion in National Highways’ multi-billion-pound road renewals framework.

“With a record order book, a healthy forward pipeline, and a strong balance sheet, the group is well-positioned for controlled growth,” it said.

Graham’s staff headcount over the year reduced to 2,297 employees from 2,352, but its wage bill grew to £148m from £145m.

The contractor said tender price inflation continues to be driven by labour cost pressures and ongoing skills shortages.