Strong trading momentum has been reported through the first half of the year at Van Elle, the ground engineering contractor, according to a trading update for the six months ended 31 October 2022.
The company says that all divisions have operated at high activity levels, with significantly increased revenues delivered in Housing and General Piling. As a result, the group expects to report record revenues for the period of approximately £81m, representing an increase of 35% on the prior year comparative of £60.1m.
Profit before tax is expected to exceed £3m for the period, up from £1.9m.
Van Elle meanwhile has indicated that although there has been some easing in supply chain disruption during the period, inflation, and in particular wage, fuel and materials costs have continued to impact the group.
Looking ahead, the firm said: “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.”
