{"id":12166,"date":"2023-01-25T04:20:11","date_gmt":"2023-01-25T12:20:11","guid":{"rendered":"https:\/\/essential.construction\/news\/van-elle-soars-to-record-revenue-in-first-six-months\/"},"modified":"2023-01-25T04:20:17","modified_gmt":"2023-01-25T12:20:17","slug":"van-elle-soars-to-record-revenue-in-first-six-months","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/van-elle-soars-to-record-revenue-in-first-six-months\/","title":{"rendered":"Van Elle soars to record revenue in first six months"},"content":{"rendered":"

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The house building market delivered strong demand, resulting in 38% of total revenue, while infrastructure and general construction markets also continued to show good growth, with improving order levels and contract activity.<\/p>\n

This trading improvement lifted pre-tax profit to \u00a33.3m from \u00a31.9m a year before.<\/p>\n

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Chief executive Mark Cutler said that while house building was now facing challenges, Van Elle<\/span> was benefitting from improved future work visibility, primarily due to being appointed to several frameworks.<\/p>\n

The Rail division was engaged on multiple frameworks including the Core Valley Lines and TransPennine Route Upgrade.<\/p>\n

Van Elle also expects to be increasingly involved in support of HS2 phase 1 work, which has helped the directly employed group workforce swell to nearly 660.<\/p>\n

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Cutler said:<\/span>\u00a0\u201c<\/span>While there remains significant macroeconomic uncertainty, most of the group\u2019s core markets continue to show a positive outlook. <\/span><\/p>\n

\u201cThe house building sector is expected to deliver lower volumes in the short term, however, the infrastructure sector is forecasting modest growth.<\/span><\/p>\n

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\u201cWhile this might impact overall volumes through the second half the year, the group should benefit from a positive mix of higher margin work delivered.\u201d<\/span><\/p>\n

He added that r<\/span>aw material supply chain disruption moderated, with improved stability of input prices and better availability of raw materials. <\/span><\/p>\n

Although he warned inflationary pressures on Van Elle\u2019s cost base had continued and were likely to persist in the short term.<\/span><\/p>\n

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