Van Elle Holdings PLC Trading Update, Notice of Results & Investor Pres (1333H)
November 22 2022 - 2:00AM
UK Regulatory
TIDMVANL
RNS Number : 1333H
Van Elle Holdings PLC
22 November 2022
Van Elle Holdings plc
('Van Elle', the 'Company' or the 'Group')
First Half Trading Update
Notice of Results
Analyst Briefing & Investor Presentation
Van Elle Holdings plc (AIM: VANL), the UK's largest ground
engineering contractor, today provides a trading update for the six
months ended 31 October 2022 (the 'Period').
Trading update
The strong momentum in trading achieved from the start of the
year through to the update at the time of the Company's AGM,
continued through the remainder of the first half of the year. All
divisions 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 GBP81m, representing an increase of 35% on the
prior year comparative (HY2022: GBP60.1m). Profit before tax is
expected to exceed GBP3.0m for the Period (HY2022: GBP1.9m).
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's cost base.
These are substantially mitigated through contract price mechanisms
as far as possible, however in some cases there is a lag in
recovery.
The Group's order book at 31 October 2022 increased 26% to
GBP49.0m (30 June 2022: GBP39.0m).
Cash as at 31 October 2022 was GBP8.4m (30 April 2022: GBP7.0m)
and net funds (excluding IFRS 16 lease liabilities) were GBP3.5m
(30 April 2022: GBP5.9m).
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.
Notice of results
The Company expects to announce its half-year results on
Wednesday 25 January 2023.
Analyst Briefing: 9.30am, Wednesday 25 January 2023
A briefing for Analysts will be held at 9.30am on the morning of
the results. Analysts interested in attending should contact
Walbrook PR on vanelle@walbrookpr.com or 020 7933 8780.
Investor Presentation: 3.30pm, Wednesday 25 January 2023
Mark Cutler, Chief Executive Officer, and Graeme Campbell, Chief
Financial Officer, will hold a presentation to review the results
and outlook at 3.30pm on 25 January 2023. The presentation will be
hosted through the digital platform Investor Meet Company.
Investors can sign up to Investor Meet Company for free and add
to meet Van Elle Holdings plc via the following link
https://www.investormeetcompany.com/van-elle-holdings-plc/register-investor.
Investors who have already registered and added to meet the Company
will automatically be invited.
Questions can be submitted pre-event to vanelle@walbrookpr.com
or in real time during the presentation via the "Ask a Question"
function.
For further information, please contact:
Van Elle Holdings plc Via Walbrook
Mark Cutler, Chief Executive Officer
Graeme Campbell, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Tel: 020 7418 8900
corporate broker)
Ed Allsopp / Mike Bell
Walbrook PR Limited Tel: 020 7933 8780
or vanelle@walbrookpr.com
Tom Cooper / Nick Rome 07971 221 972 or 07748
325 236
About Van Elle Holdings plc:
Van Elle Holdings is the UK's largest specialist geotechnical
engineering contractor. The Company provides a range of ground
engineering techniques and services including - ground
investigation, general and specialist piling, rail geotechnical
engineering, modular foundations, and ground improvement and
stabilisation services.
Van Elle operates through three divisions: General Piling,
Specialist Piling and Rail, and Ground Engineering Services; and is
focused on three end markets: residential and housing,
infrastructure and regional construction - across which the Group
has completed more than 20,000 projects over the last 35 years.
General Piling provides a range of larger piling and ground
engineering solutions for open-site construction projects.
Specialist Piling and Rail provides a range of geotechnical
solutions in operationally constrained environments including
on-track rail applications. Ground Engineering Services offers a
range of ground investigation and geotechnical services and modular
foundation solutions such as Smartfoot(R). Van Elle has a
market-leading reputation and the UK's largest rig fleet of 122
rigs.
Having floated on AIM in 2016 it now has a strong national
presence, diversified offering and market-leading brand name.
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END
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