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Construction company Graham is profitable despite the pandemic and is building a record-breaking work pipeline

Graham, one of Northern Ireland’s largest construction companies, has overcome the effects of the Covid-19 pandemic and built a record pipeline for the future while increasing last year’s profits.

The latest account reportedly earned £ 12m in the 12 months to the end of March 2021, up 7% year-on-year. Profit surged despite revenues declining from £ 45m to £ 808m.

According to the company, the pandemic initially hit the business hard and fell short of its earnings forecast for the period April 2020 to June 2020 by about £ 100 million, but used an employment retention scheme during that period. By doing so, we were able to protect the roles of approximately 2,200 staff.

Since then, in light of the strong performance of the business, we have repaid the salaries of all the workers who reduced their wages during the layoff and thanked all the staff.

He also said that the increase in bank and cash on hand from £ 72.9m to £ 118.9m has made payments to suppliers faster.

Graham is one of Northern Ireland’s largest companies and has major contracts across the UK and Ireland, including the University of St Andrews Music Center, Copperhouse in Liverpool, Tilbury 2 in Tilbury Harbor, and A6 in Northern Ireland. I’m out.

Currently, we have a record working pipeline totaling £ 1.7 billion.

“Undoubtedly, this was a particularly difficult time for all contractors in the construction industry,” said Michael Graham, Executive Chairman of the GRAHAM Group. “This makes the latest financial figures even more impressive.

“In this unprecedented and broad social era, our priority was to protect the future of our business while ensuring the health and safety of all at the same time. Wise and practical. The leadership approach has helped us achieve these two goals.

“Through the pandemic, our staff, supply chain and subcontractors went beyond that. We would like to thank them and their families for their great efforts.”

Construction company Graham is profitable despite the pandemic and is building a record-breaking work pipeline

Source link Construction company Graham is profitable despite the pandemic and is building a record-breaking work pipeline

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