Northern Ireland

John Graham Holdings increases annual turnover to more than £266m

One of Northern Ireland's largest construction firms has increased its annual turnover to more than £266m.

John Graham Holdings also saw pre-tax profit rise slightly to just over £4.7m.

That compares to a pre-tax profit of £4m on turnover of £219m in 2011.

The firm is based in Dromore, County Down, and employs around 1200 people working on contracts across the island of Ireland and Great Britain.

The group also proposes to pay its shareholders a £1m dividend after not paying a dividend last year.

The directors described the performance as satisfactory "given the current ongoing difficult economic conditions".

They added that the outlook for the construction sector "remains challenging" as constraints in government capital spending continues.

However, they state that "the breadth of the group's activities" leave it well positioned.

Although Northern Ireland is continuing to experience a deep recession in the construction sector, Graham has managed to stay profitable through the downturn.

Recent wins for the firm include contracts worth £25m to build student accommodation at the University of Stirling and Newcastle University.