Van Elle, the Nottinghamshire-headquartered ground engineering contractor, has hailed record half year revenue in its interim results for the six months ended 31 October 2022.
Van Elle says all its divisions operated with high activity levels throughout the period.
Revenue grew to £80.8m from £60.1m in the same period of the year prior, while pre-tax profits rose from £1.9m to £3.3m. EBITDA increased to £6.4m from £4.8m.
Mark Cutler, Chief Executive, said: “Strong trading momentum was sustained throughout the period despite a challenging macro environment. All divisions operated at high activity levels throughout, with significantly increased revenues delivered in Housing and General Piling, Rail activity in line with expectations and the group as a whole reporting record revenues.
“The group is benefitting from improved future work visibility, primarily due to being appointed to several strategic frameworks in highways and rail, all of which require an integrated delivery approach across our specialist capabilities.
“Market conditions in the short term, especially in respect of new build housing, are expected to be more challenging, however Van Elle is well positioned to benefit from opportunities across its breadth of end markets and diverse customer base. The Board therefore remains confident in the delivery of our medium-term strategy, and in achieving market expectations for the full year.”
