Graham, the contractor and developer, says it has improved its supply chain management and supplier payment statistics after revenue burst through £1 billion.

John Graham Holdings reported turnover of £1.094 billion, up 15.3% on the Northern Ireland based group’s 2022 results (£948.3m).

However, profit before tax fell to £15.1m from £19.03m last time as inflationary pressures squeezed margins.

Cash at the bank and in hand increased to £177.1m, a 28% rise from £127.1m in 2022.

The company’s projects in Scotland included completion of Glasgow’s Buchanan Wharf development and the £12.5m RIAS Laidlaw Music Centre at the University of St Andrews.

The strong balance sheet position has enabled Graham to further improve its supply chain management and supplier payment statistics and to continue to invest in the training and development of its 2,200-plus staff.

Inflationary pressures have been mitigated through a strategic approach to partnership working, particularly with a growing number of repeat clients. The company said this model promotes collaboration, quality delivery and cost certainty throughout the supply chain.

It said it is in a strong position with a record pipeline of £2bn.

Andrew Bill, Graham group chief executive, emphasised the “strong governance and commercial management” behind its latest performance. 

He said: “We are very pleased with these latest published accounts, which demonstrate a strong performance in our core markets.

“This has been achieved despite the complexity of the current inflationary environment and other notable external factors. Strong governance and commercial management are at the heart of our approach to sustainable growth.”