Graham鈥檚 group revenue increased 36% to 拢767.6m for the year to 31st March 2018 up from 拢565m the previous year. There was growth across all divisions. Graham's turnover has now more than double in the past five years, up from 拢321m in fiscal 2013.
Pre-tax profit was down a fifth to 拢13.1m (2017: 拢16.1m) but given the amount of investment in the business during the year, the board was satisfied with the result. Being privately owned, there are no outside shareholders demanding dividend growth every year.
The cash position improved during the year from 拢66.6m to 拢70.1m.
Executive chairman Michael Graham said: 鈥淔undamentally, Graham is in an excellent position. Each of our divisions has a record order book and a pipeline of opportunity that is strong in both volume and quality. Cash at bank and in hand has passed the 拢70m mark with good operating cash flows which means that, among other things, we can ensure prompt supplier payment that will stand us in good stead for more sustainable growth.
鈥淢argins have unquestionably been hit by some supply chain failures and knock-on effects of a major contractor collapse, but we have ensured that every division has remained in profit and are happy with the end of year outcome given the challenging circumstances.
鈥淟ooking forward, we increased investment in the business during 2017/18, developing a guiding principle of 鈥榙elivering lasting impact鈥� that reflects who we are and what we stand for. It formed the basis for a strategic rebrand 鈥� the first in 25+ years 鈥� and was rolled out nationally from the end of April. Our business has evolved significantly in the last 25 years and we鈥檙e really proud of the result.鈥�
Got a story? Email news@theconstructionindex.co.uk
