In an update on trading ahead of its financial year ending on 30 April 2023, Van Elle, the Nottinghamshire-based ground engineering contractor, has hailed revenue growth approximately 20 per cent ahead of its previous year.
The company’s trading performance since its announcement of interim results in January, however, has been subject to the impact of industry-wide softening and investment delays due to macro-economic factors in the housing and infrastructure markets.
Despite these challenges, the firm says it remains on track to deliver profit before tax for FY23 in line with previously upgraded expectations.
Looking ahead, with industry forecasts expecting weaker market conditions to continue into the new financial year, particularly in the new-build housing sector, Van Elle says it is undertaking “a range of cost saving measures to support margins” and has “made strategic progress on new growth opportunities.”
This includes the launch of the Smartdeck foundation system and the incorporation of Van Elle Canada Inc.
