East Midlands business confidence sees slight rise in January
Council to sell eight care homes
Profits and revenue slide at Van Elle
Profits and revenue have slid at Van Elle, the Nottinghamshire-based ground engineering contractor.
According to unaudited interim results for the six months ended 31 October 2024, profit before tax dipped to £1.9m from £2.5m in the same period of the year prior.
Meanwhile, revenue of £65.2m marked a decrease of 4% compared to last year (£68.2m).
The business noted that a “strong performance” in Specialist Piling and Rail was offset by weaker volumes in General Piling and Ground Engineering Services.
Market conditions in each of the firm’s end markets are expected to remain challenging for the remainder of the current financial year. However, Van Elle is said to have “continued to secure a solid pipeline of future work, including several targeted key contract wins, and has a strong order book for delivery in the final quarter of the financial year.”
Mark Cutler, Chief Executive, said: “The Group has faced another challenging period, however, it has continued to make significant strategic progress, positioning Van Elle in attractive end markets and strengthening its core offering to deliver for clients. We have been focussed on driving operational efficiencies and have a right-sized cost base, appropriate to the current levels of demand.
“The acquisition of Albion Drilling has accelerated our expansion into both Scotland and the Energy sector and broadened our specialist capabilities, while Specialist Piling activity levels notably increased in the Period. The Group as a whole has continued to secure a solid pipeline of future work, including several targeted key contract wins.
“Alongside the increase in volumes experienced in our Housing Division, our other key markets are expected to continue improving over the coming months, and coupled with a strong order book, we remain confident in delivering a full year performance in line with market expectations.”
Midland Tyre Solutions parks up at Derwent Business Park
New business support programme starts in Northamptonshire
2025 Business Predictions: Sunny Landa, director, Landa Associates
New Nottingham partnership to drive innovation for brewing industry
Wavensmere sells 262 homes to Kennedy Wilson
Progress made in improving Rutland and Melton transport services with green light for Jules House alterations
Hillwood start on site at Raunds industrial and logistics scheme
Baby loss charity smashes £50,000 fundraising target for Nottingham’s QMC
Talent services firm secures three-year contract with Buckland Rail
Revenues slip at NAHL
NAHL, the Kettering-based marketing and services business focused on the UK consumer legal market, has seen revenues slip in 2024.
According to a trading update from the business, which is behind National Accident Helpline, revenues for the period are expected to decline to £38.8m, down from £42.2m in 2023. This is 8% lower than last year due to an anticipated reduction in revenues from the firm’s Personal Injury business.
Underlying operating profit, meanwhile, is expected to be approximately £3.9m, decreasing from £4.4m in 2023, after the deduction of £0.6m exceptional costs associated with the potential disposal of the group’s Critical Care business (£0.4m) and the associated restructure of the group’s Personal Injury business (£0.2m).
Profit before tax (PBT) for the period, however, is expected to increase 23% to £0.8m from £0.6m.
The results came as NAHL confirmed that it is in exclusive discussions with a potential buyer for Bush & Co. and due diligence and negotiations have moved to the next stage.