Van Elle eyes record revenue as forward momentum continues
Nottinghamshire-headquartered ground engineering heavyweight Van Elle is on track to notch up record revenues after growing its order book by 26%.
In a trading update this morning (22 November), the firm said the strong momentum it had built in the first half of year continued during the six months to 31 October, with revenues leaping by 35% to £81m.
Van Elle’s pre-tax profits also increased by £1.1m to £3m during the period. The company said all of its divisions had enjoyed “high levels” of activity despite increased wage, fuel and materials costs.
The firm’s order book now stands at £49m – up from £39m in June.
The company told the London Stock Exchange: “Whilst 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. 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.”