Market conditions have continued to be challenging across all sectors, Van Elle reports.
Workload has been subdued in the rail sector as it transitions from the CP6 to CP7 regulatory investment period. Road building continues to experience project delays with the Department for Transport reviewing the national roads programme. And the impact of the Building Safety Act has caused delays in start dates of taller residential schemes, Van Elle says.
On the plus side, the new build housing sector has continued to recover, it says, giving Van Elle a strong pipeline of work planned for delivery in the coming months.
Next month Van Elle Holdings expects to report interim results for the half-year to 31st October 2024 showing revenue 5% down on last year at around £65m,
The order book as at 31st October 2024 increased to £41.6m (30 April 2024: £35.1m), including £1.4m from the acquisition of Albion Drilling in Scotland. The order book excludes framework agreements and preferred bidder positions.
The board continues to expect results for the full year in line with market consensus, with profits being weighted towards the second half of the year.
Got a story? Email news@theconstructionindex.co.uk
