AGM Statement

RNS Number : 0704B

Van Elle Holdings PLC

29 September 2022

 

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 12.00 today.

The Group has built on the strong trading momentum highlighted in its full year results announcement published on 3 August 2022, with a strong order book, and revenues to date ahead of management expectations.

However, the challenges associated with the industry-wide supply chain and inflationary cost pressures remain prevalent and are expected to persist into the next calendar year. These challenges are being mitigated as far as possible and the Board remains confident in achieving full year profitability 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) Ed Allsopp / Mike Bell	Tel: [phone]
Walbrook PR Limited	Tel: [phone] or [e-mail]
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 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.

 

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