Van Elle first-half revenue to hit record £81m

Announcing strong trading in the first part of the new financial year, chief executive Mark Cutler said the firm had delivered a 35% jump in revenue to a record £81m in the six months to October.

All divisions operated at high activity levels, with significantly increased revenues delivered in housing and general piling.

Profit before tax is expected to exceed £3m for the period (HY2022: £1.9m). 

He reported there had been some easing in supply chain disruption during the period, but inflation, and in particular wage, fuel and materials costs still continued to impact the group’s cost base. 

While recognising the current economic uncertainty in the UK, strong activity levels are expected to be sustained through the second half of the year, despite the winter months which traditionally deliver lower activity levels due to weather disruptions, said the trading update.

“The board is pleased with the progress made in the first half of the year and anticipates trading for the full year to be slightly ahead of market expectations.”

Van Elle’s order book at 31 October 2022 increased 26% to £49m (30 June 2022: £39.0m).

 

Leave a comment