Profits nearly treble at Northern building firm John Graham Holdings

Pre-tax profits at Northern-based building and engineering group, John Graham Holdings increased almost three-fold to £17.16m (€20.5m) in its last financial year.

Revenues at the Hillsborough-based group increased by 3.5% to £507m in the 12 months to the end of March.

Numbers employed by the group last year increased from 1,645 to 1,761.

The directors’ report section of the company’s latest annual accounts notes that “overall, our group businesses continues to deliver robust performances in a market that shows strong signs of growth with investment in infrastructure a key focus area for both the public and private sector”.

The firm paid dividends of £9m during the year. Its business is split between construction, asset management and investment with the directors stating that in relation to its construction business “our spread of delivery capability across a broad range of sectors, the consolidation of our increased geographical footprint and our continued focus on operational efficiency leave us well-positioned to capitalise on opportunities that come our way”.

The directors also said that its investment business continued to generate construction and asset management business for the group. They added they’re well-placed to participate in selected private investment opportunities.

The accounts also show that the group recorded an operating profit of £16.9m during the year.

The group’s cash during the year increased sharply going from £31.94m to £45.7m and revenues at its business in the Republic also improved.

Directors’ pay, last year, totalled £1.26m with £309,000 being paid to the highest paid director.

The profit last year takes account of non-cash depreciation costs of £2m.