Builder John Graham profits fall as revenues rise

Builder John Graham profits fall as revenues rise
Builder John Graham profits fall as revenues rise

Accounts filed by John Graham Holdings Ltd to Companies House show profits fell to £8.18m (€9.1m) as revenues fell by over 4% to £735m in the 12 months to March.

The directors state the each division in the group continued to be profitable. It employed 2,160 people at a cost of £109m, while directors’ pay was unchanged at £2m, with pay to the highest paid director increasing from £506,000 to £524,000.

The group paid out dividends of €2.65m in the year and £6m in the previous year. In their business review, the directors say the financial year “saw a period of stabilisation after a number of years of significant growth”.

“Despite the challenging market conditions faced by many of our competitors, the directors are pleased to report that each division within the group has remained profitable,” the directors said. “Each division within the group is in a strong position with record order books and a pipeline of opportunity that is strong in both volume and quality.”

The group has worked on Belfast’s Grand Central Hotel and the maternity unit at the Royal Victoria Hospital. Its balance sheet was further strengthened with accumulated profits increasing from £57.4m to £61.6m. The group’s cash declined from £70.1m to £62.9m.

Source: Business News