REG - Van Elle HoldingsPLC - Trading Update, Notice of Results & Investor Pres

Van Elle HoldingsAnnouncement

22/11/2022 07:00

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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 £81m, representing an increase of 35% on the prior year
comparative (HY2022: £60.1m). Profit before tax is expected to exceed £3.0m
for the Period (HY2022: £1.9m).

 

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 £49.0m (30 June
2022: £39.0m).

 

Cash as at 31 October 2022 was £8.4m (30 April 2022: £7.0m) and net funds
(excluding IFRS 16 lease liabilities) were £3.5m (30 April 2022: £5.9m).

 

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 corporate broker)  Tel: 020 7418 8900

 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®. 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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