Finance boss resigns at engineering firm
The chief financial officer at Van Elle, the listed geometrical engineering firm based in Nottighamshire, has resigned.
Paul Pearson steps down from the company two weeks after it posted its second profit warning of the year after being hit by delays in contract awards and start dates.
Adrian Barden, chairman, said: “On behalf of the Board I would like to thank Paul for his many years’ service, which included the successful IPO of Van Elle in 2016.”
On 26 April, the company said it has experienced “a level of uncertainty” in its markets and is looking at revenues being 3% lower than expected for the year-ending 30 April, and profits “slightly below” the lower end of its forecasts.
Van Elle said it is addressing the “weaknesses” in its piling division and will appoint a new director in June. Revenue recovered in Q4, the company said.