‘Subdued activity’ hits contractor’s revenues
Van Elle expects “uncertainty and subdued activity levels” to continue in key sectors including housebuilding, but believes it has “a strong platform” for the months ahead.
The Nottinghamshire ground engineering contractor says it is on track to meet market expectations of underlying profit before tax of £5.0m for the year to April 2024.
Its revenues for the first six months of the financial year were down 16% to £68m.
Van Elle completed the £3.8m acquisition of piling specialist Rock and Alluvium from Galliford Try yesterday.
It is optimistic there are “early signs of a recovery in commercial and residential opportunities in London and the south east” which Rock and Alluvium “is well placed to benefit from”.