GRAHAM has published a trading update for the year ended 31 March 2023 – reporting revenue of more than £1 billion.
The Group’s main activities are in building, civil engineering, interior fit-out, facilities and development management, and investment services.
Highlights
- Turnover: £1.094 billion (FY2022: £948.3 million)
- Gross profit: £59.5 million (FY2022: £62.4 million)
- Operating profit: £14.2 million (FY2022: £18.9 million)
- Profit before tax: £15.1 million (FY2022: £19 million)
- Profit after tax: £12.6 million (FY2022: £15.3 million)
- Cash (at bank/in hand): £177.1 million (FY2022: £127 million)
- Total income: £11.9 million (FY2022: £15.4 million)
Net assets (including profit and loss acc) and shareholder funds were valued at £82.6 million (FY2022: £85.7 million)
Retained earnings carried forward were £82.6 million (FY2022: £84.7 million)
GRAHAM has a forward order book of more than £2 billion.
During the year, dividends of £7.7 million were proposed and paid (FY2022: £8.9 million).
The directors did not recommend a final dividend.
Outlook
The company expects to generate profits and cash reserves in the year ending 31 March 2024 and beyond, it said.
Adding, the Group has sufficient cash and liquidity to continue operations and meet its obligations to June 2024.
“This strong performance was due in part to strong governance over the years that saw the business being selective with its contracts, delivery of high-quality projects and managing risk underpinned by strong commercial management,” said the Group.
Adding: “Despite the inflationary pressures expected to continue into the 2024 financial year, we will continue to mitigate the risk through selective bidding and supply chain management.”
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