Northern Ireland based contractor says turnover flat at 拢1.1bn
Pre-tax profit at Graham fell again last year with the firm saying its bottom line was hit by rising inflation and a slowdown in jobs starting on site.
In accounts filed at Companies House for the 12 months to March 2024, the firm, which is based in Northern Ireland, said profit was down 2% to 拢14.7m, having fallen 21% the previous year. Turnover was flat at 拢1.1bn.
The firm, which will rebuild the Tavern and Allen stands at Lord鈥檚 cricket ground under a 拢60m deal, said it was still having to deal with 鈥渨ell documented inflationary pressures and significant economic and geopolitical headwinds鈥�.
It added: 鈥淎cross the wider industry, higher borrowing costs and the evolving regulatory and legislative environments have led to a slowdown in planned start dates for major construction projects while impacting upon contractor profitability.鈥�
Cash at bank and in hand was down 15% to 拢151m while its forward order book was in excess of 拢2bn.
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