{"id":601203,"date":"2023-01-25T19:49:49","date_gmt":"2023-01-26T01:49:49","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/25\/van-elle-revenue-rises-35\/"},"modified":"2023-01-25T19:49:49","modified_gmt":"2023-01-26T01:49:49","slug":"van-elle-revenue-rises-35","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/25\/van-elle-revenue-rises-35\/","title":{"rendered":"Van Elle revenue rises 35%"},"content":{"rendered":"<div id=\"wrapper_sleeve\">\n<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2023\/01\/Van-Elle-pic-for-story-1024x683.jpg\"   alt=\"Van-Elle-pic-for-story-1024x683.jpg\">        <\/p>\n<div>\n<p>Van Elle has recorded revenue of \u00a380.8m for the first half of its 2022\/23 fiscal year, it revealed this morning.<\/p>\n<p>Building on a <a href=\"https:\/\/www.constructionnews.co.uk\/financial\/van-elle-returns-to-profit-03-08-2022\/\">healthy financial performance<\/a> for the full-year to April 2022, when it returned to profit for the first time since 2019, the groundworks specialist said its revenue was up more than a third from the \u00a360.1m it posted in the first half of the year before.<\/p>\n<p>It also recorded a pre-tax profit of \u00a33.3m, compared with \u00a31.9m in the first half of its 2021\/22 financial year. Operating profit was also \u201csignificantly ahead of the prior year [\u00a32.3m]\u201d at \u00a33.5m, Van Elle added.<\/p>\n<p>However, Van Elle chief executive Mark Cutler warned analysts and investors of a \u201cchallenging macro environment\u201d for the company, <a href=\"https:\/\/www.constructionnews.co.uk\/agenda\/the-uks-top-10-ground-engineering-contractors-3-08-11-2022\/\">which is the UK\u2019s largest ground engineering contractor<\/a>.<\/p>\n<p>\u201cMarket conditions in the short term, especially in respect of new-build housing, are expected to be more challenging. However, Van Elle is well-positioned to benefit from opportunities across its breadth of end markets and diverse customer base,\u201d Cutler noted.<\/p>\n<p><em>Construction News<\/em> recently reported that housebuilder <a href=\"https:\/\/www.constructionnews.co.uk\/financial\/persimmon-pauses-builds-due-to-uncertain-market-conditions-12-01-2023\/\">Persimmon had paused some of its work due to \u201cuncertain market conditions\u201d<\/a>.<\/p>\n<p>Van Elle\u2019s end markets include rail infrastructure, where Van Elle claimed strong activity levels as it \u201cdelivered major electrification programmes under framework agreements\u201d in the first half of 2022\/23.<\/p>\n<p>Ongoing rail projects include the West of Leeds section of the multibillion-pound Transpennine Route Upgrade, for which Van Elle was appointed to the piling framework in July 2022.<\/p>\n<p>It also gained a position on the 10-year Smart Motorway Programme Alliance framework in May last year.<\/p>\n<p>The firm\u2019s statement also showed that its net debt increased slightly to \u00a32.5m from \u00a32m in the first half of 2021\/22.<\/p>\n<p>Excluding framework deals, Van Elle\u2019s order book as of 31 October 2022 stood at \u00a349m, although this decreased to \u00a338m by the end of last year.<\/p>\n<p>Van Elle remained confident of achieving its market expectations for the full fiscal year, citing \u201canalyst consensus\u201d of \u00a35.2m to \u00a35.4m in underlying profit.<\/p>\n<p>London Stock Exchange-listed Van Elle saw its share price rise slightly from 48p when trading opened today to 50.4p at 12.20pm.<\/p>\n<\/p><\/div>\n<h3>Related articles<\/h3>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.constructionnews.co.uk\/financial\/van-elle-revenue-rises-35-25-01-2023\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Ben Vogel<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Van Elle has recorded revenue of \u00a380.8m for the first half of its 2022\/23 fiscal year, it revealed this morning. Building on a healthy financial performance for the full-year to April 2022, when it returned to profit for the first time since 2019, the groundworks specialist said its revenue was up more than a third<\/p>\n","protected":false},"author":1,"featured_media":601204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27550,22420],"tags":[],"class_list":{"0":"post-601203","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-revenue","8":"category-rises"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/601203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=601203"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/601203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/601204"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=601203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=601203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=601203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}