The headline figure from recently published accounts for the year ending 31 March 2024 shows a 2.8% increase on the group’s 2023 results of £1.09bn.

The national contractor and developer also recorded profit before tax of £14.8m and maintained its robust balance sheet position with cash at bank and in hand of £151m.

This “strong performance” in the face of well documented inflationary pressures and significant economic and geopolitical headwinds followed the successful delivery of major projects in each of its core market sectors (building, civil engineering, interior fit-out, facilities management and development management).

Across the wider industry, higher borrowing costs and the evolving regulatory and legislative environments have led to a slow down in planned start dates for major construction projects while impacting upon contractor profitability.

To offset many of these challenges, the group has focussed on a sustainable growth model built on the platform of strategic supply chain management and selective work winning. This approach, it says, has resulted in a record pipeline of secured work in excess of £2bn.

GRAHAM is currently engaged in major projects in Scotland, including the £59m Burnet Point scheme in Abbey Lane, Edinburgh, which commenced earlier this year.

In Glasgow, GRAHAM recently achieved practical completion of the £81.5m Build-to-Rent project at Candleriggs Square and is currently progressing the new iQ Student Accommodation scheme which will include over 500 student apartments.

Andrew Bill, GRAHAM Group chief executive officer, said: “The latest published accounts for the group are pleasing and underline the strong performance of each our divisions within our core market sectors. We prioritise robust governance and commercial management which are the backbone of our sustainable growth model.

“Significantly, the continued success of the group has been achieved despite global economic uncertainty and inflationary pressures. The market has been challenging but our consistent focus on quality delivery and commitment to securing repeat business through the development of collaborative client relationships have allowed us to grow sustainably over the past year.

“Looking forward, we have developed a significant pipeline of opportunity to allow us to positively approach the next 12 months, and beyond, with energy and optimism.”