Redhall continues growing with £115m of new orders

REDHALL Group has continued on the growth trail with year-end profits up 39% and revenue rising by 49% and an order book of £115m.

The specialist engineering support services group, based at Wakefield, saw pre-tax profits rise to £6.5m in the year to September 30 from £4.6m previously, on turnover which increased to £129m from £86.7m last time.

Chairman David Jackson said the group saw future growth opportunities in “key energy and defence markets” with it “well positioned in decommissioning and for the future nuclear power generation new build”.

Redhall is to increase its final dividend by 10% to 4.4p a share and has increased its net cash position to £6.3m from £1.9m the year before.

Mr Jackson said the last 12 months had seen the group complete two major projects at Sellafield with a value of £30m and had recently won new contracts worth £10m at Sellafield and AWE.

He said: “Since 2006 group revenues have grown fourfold from £31.6m to £129n, adjusted PBT (profit before tax) has increased over eight-times to £6.5m and the group remains focused on attractive growing markets with high barriers to entry. These markets offer the prospect of long term growth and our model of direct delivery continues to be the key differentiator.

“The combination of a strong balance sheet and a quality order book and bid pipeline gives us confidence that we can continue to make progress in the coming year.”