Graham Group reports declining profits

One of the largest construction companies in Northern Ireland has announced a decline in profits.

The pre-tax profits of the Graham Group fell to £ 8.2 million by the end of the year at the end of March, compared with £ 13.1 million the previous year. The turnover also decreased by 4% to 735 million pounds.

The civil engineering and development company employs more than 2,100 people.

The company said it was well positioned for 2020, with "a high level of secure work and a forecast business figure of £ 875 million".

"Our targeted work-earning approach represents our current £ 1.2bn order backlog as well as a strong presence in a number of environments, which will help maintain the group's good balance between public and private works" said Executive Chairman Michael Graham.