UK-based ground engineering contractor Van Elle has reported a 19% revenue increase for the fiscal year ending 30 April 2023 to £148.7m ($191.99m), compared to the £124.9m reported in 2022.
The company’s profit before tax increased to £5.4m in 2023, from £3.6m last year.
In the fiscal year ending April 2023, the company reported an operating margin of 3.9% and an operating profit of £5.9m, up 34% from £4.4m last year.
This rise is due to greater margins in general piling, revenue from ground engineering services, and higher activity levels that consequently improved overhead recovery rates.
Van Elle CEO Mark Cutler said: “I am delighted to report a strong set of results, building on last year’s excellent progress as we emerged from the pandemic.
“The breadth of the group’s expertise, strength of balance sheet and depth of resource allows us to offer the best value to our customers, with whom we are forging closer long-term partnerships.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“The actions taken over the last three years are starting to deliver sustainable results that put us firmly on track to deliver our medium-term financial objectives.
“I want to extend my sincere thanks to our employees, suppliers and customers for their hard work and support over the last year.”
Meanwhile, the secured order book for the company was reduced to £30.8m as of 30 April 2023, from £39m the previous year. This excludes framework agreements and preferred bidder arrangements, with yearly revenues anticipated to be between £30m and £40m.
As of now, the company is the preferred bidder on three of its planned projects in the next fiscal year, indicating a robust pipeline of possibilities in the energy transmission and distribution sectors.