Van Elle, the ground engineering contractor, has “delivered a resilient performance” in the year ended 30 April 2024 (FY2024).
Results for the year show growth in pre-tax profit, which stood at £5.6m, up from £5.4m in the year prior.
Revenue, however, decreased from £148.7m in the year prior to £139.5m, though this was in line with expectations.
The business was hit by the impact of a softer housing market, though partially mitigated this through a diverse customer base including partnership and affordable housing customers.
Looking ahead, market conditions are expected to remain challenging throughout the remainder of calendar year 2024.
Mark Cutler, Chief Executive, said: “Van Elle delivered a resilient performance in the year, benefitting from the breadth of its capabilities and end markets, despite very challenging market conditions across most sectors.
“The Group has continued to expand its offering, grow geographically and enter new sectors, through the acquisition of Rock & Alluvium, its strategy for the water and energy sectors, and the establishment of rail operations in Canada.
“We start the new financial year with a strong order book and multiple framework agreements. Our focus on key customer partnerships and strategic markets is expected to deliver significant growth opportunities over the medium term.”
