Sunday, June 26, 2022

Revenues grow at Van Elle as elevated levels of demand continue

Revenues are growing at Van Elle, the ground engineering contractor, as demand levels continue to rise.

In a trading update for the year ended 30 April 2022, ahead of announcing its full-year results, the Nottinghamshire-based company reported that elevated levels of demand in its core markets have continued.

Consequently, the group now expects to report results for the period ahead of recently upgraded forecasts, with revenues of approximately £125m. This represents an increase of approximately 48% (a 41% increase after adjusting for the impact of the acquisition of ScrewFast Foundations Limited) compared with the prior year (£84.4m), with operating profits slightly ahead of the top end of the range of market expectations.

This continued demand is reflective across the business’s divisions. There has been an increase in work delivered within the rail division, and volumes across housing, specialist piling and general piling have remained consistent. The firm further noted that supply chain challenges are showing some signs of moderating, with the impact of material price inflation being managed through contract pricing mechanisms.

In a statement Van Elle said: “The Board is pleased with progress made in the second half of FY22. The trading momentum has continued into FY23 while future prospects in its growth markets remain encouraging.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.