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Construction News
26/07/2017
Van Elle Hits Record Revenue In Financial Results
Geotechnical contractor Van Elle has reported record revenue in it's results for the year ended 30 April 2017.
The company states revenue jumped 11.8% from £84.2 million to £94.1m, while underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 12.9% to £16.3m.
In addition, underlying operating profit increased by 4.6% to £11.6m, reflecting sales mix effect and overhead investment.
However, reported operating profit fell from £11.1m to £9.7m
Jon Fenton, Chief Executive, said the year will stand out as "transformational" for the business as it's admission to Alternative Investment Market last year gives the company an "elevated platform from which to drive the business forward".
"Looking ahead, we continue to actively monitor conditions in our core markets and, whilst mindful of the risks posed by any sustained period of political or economic uncertainty, we are cautiously optimistic for further progress in the year ahead," he said.
(LM/MH)
The company states revenue jumped 11.8% from £84.2 million to £94.1m, while underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 12.9% to £16.3m.
In addition, underlying operating profit increased by 4.6% to £11.6m, reflecting sales mix effect and overhead investment.
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However, reported operating profit fell from £11.1m to £9.7m
Jon Fenton, Chief Executive, said the year will stand out as "transformational" for the business as it's admission to Alternative Investment Market last year gives the company an "elevated platform from which to drive the business forward".
"Looking ahead, we continue to actively monitor conditions in our core markets and, whilst mindful of the risks posed by any sustained period of political or economic uncertainty, we are cautiously optimistic for further progress in the year ahead," he said.
(LM/MH)
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