GRS attributes its performance to its diversified model and pivotal role in the supply of bulk aggregates into major infrastructure projects.
Britain's largest independent construction materials supplier GRS Group has reported a nine per cent rise in annual revenues, doubling its pre-tax profits for the year to 31 January 2026.
The privately owned firm reported a consolidated turnover of £521 million in 2025/26, up from £479 million the previous year. Underlying operating profit increased 12% to £12.9 million, excluding exceptional items and gains on disposals. Profit before tax was reported as £6.0 million, up from £3.0 million in 2024/25. Net debt at the year end was £27.9 million, as GRS reinvested in technology and circularity, and purchased Tarmac's minority shareholding, setting the company up for future growth.
Against the backdrop of a depressed construction market, notably HS2 to which the firm has now supplied some 25 million tonnes of stone.
However, sluggish housebuilding and home improvement markets have led to below budget sales volumes in two of the Group's divisions – materials trading and building products. Exceptional charges of £10.7 million reflect strategic decisions made in 2025/26, including mothballing the Ocean Blocks & Aggregates joint venture in the South West. GRS also sold its stake in a 50:50 landfill joint venture to Tarmac and its commercial waste brokerage business to Biffa.
In 2025/26 GRS also became 100% management-owned for the first time in three decades, after acquiring Tarmac's 23.7% shareholding. Described as "a landmark moment" the move has allowed GRS to rapidly expand its sustainable aggregates offering and develop its digital materials management platform, whilst securing new long-term supply agreements with major aggregates producers including Tarmac.
Jon Fisher, GRS Chief Executive, said: "These results show progress in a market that remains stubbornly tough. Our numbers by division reflect difficult conditions in sectors like housebuilding, and the decisive action we have taken to streamline the business and exit non-core activities will prove critical to our long-term success.
"Near-term conditions remain challenging, but the Government's £718 billion infrastructure pipeline and housebuilding aspirations represent the largest investment of their kind in a generation – now what we need is delivery, which in turn will help kickstart growth. Building on our incredible performance on HS2, and with funding to 2031, we're in a strong position to generate value for customers and deliver results."
The Group's annual results follow the announcement in August 2026 that the company had extended its banking facility with Wells Fargo Capital Finance, securing up to an additional £30 million on improved terms. According to GRS, the deal signals the bank's confidence in the Group's strategy and reinforces its ability – and agility – to accelerate its growth plans through acquisitions, joint ventures and partnerships, despite uncertain market conditions.
The firm is also deeply committed developing future talent through its ‘Purposeful Growth' programme launched in 2026, and in particular its in-house GRS Academy and its unique partnership with the Royal Military Academy Sandhurst which was recently renewed.
