Saturday, August 20, 2022

Record revenues and return to profit for Van Elle

Van Elle, the ground engineering contractor, has hailed record revenues and a return to profit “following a strong recovery driven by high levels of activity across all divisions.”

According to results for the year ended 30 April 2022 (FY2022), revenue reached £124.9m, up from £84.4 for the year prior.

Meanwhile the Nottinghamshire-based firm posted a pre-tax profit of £3.6m, up from a £1.4m loss.

The news comes after record activity levels and following strategic targeting of structurally growing end markets.

The company reported significant growth across all divisions, notably in higher margin Specialist Piling, Rail and Ground Engineering Services.

Van Elle noted that trading momentum has continued into FY2023 with all divisions operating at high activity levels.

Mark Cutler, Chief Executive, said: “These results are the first to reflect a full year’s trading post COVID and demonstrate the positive progress the group is making under its transformation strategy launched in 2019.

“Although the sector continues to face several wider challenges, we have significant opportunities ahead to further improve, and momentum has continued into the new financial year. Overall, it is pleasing to see the actions taken over the last three years starting to deliver sustainable results that put us firmly on-track to deliver our medium-term objectives.

“My sincere thanks to our employees, suppliers and customers for their hard work and support over the last year.”

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