AGM Statement

RNS Number : 9798M

Van Elle Holdings PLC

27 September 2021

 

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

AGM Statement

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering contractor, is pleased to provide an update ahead of the Annual General Meeting of the Company being held at 12.30 p.m. today.

The Group's positive start to FY2022 has continued since the date of its final results announcement on 17 August 2021, with strong revenues being achieved across most divisions. The medium-term outlook for Rail remains positive, with increased tendering opportunities and a steady increase in contract activity.

The Group has continued to experience the effects of industry-wide supply chain challenges and short term employee availability but, despite this, has continued to trade profitably.

The balance sheet provides significant headroom for growth and the Board continues to expect a return to profitability for the full year, in line with market expectations.

For further information, please contact:

Van Elle Holdings plc Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer	Via Walbrook
Peel Hunt LLP (Nominated Adviser and corporate broker) Mike Bell / Ed Allsopp	Tel: [phone]
Walbrook PR Limited	Tel: [phone] or [e-mail]
Tom Cooper / Nick Rome / Nicholas Johnson	07971 221 972 or 07748 325 236 or 07884 664 686

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 ground engineering; 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 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 115 rigs.

Having floated on AIM in 2016 it now has a strong national presence, diversified offering and market-leading brand name.

 

END

 

 

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