Van Elle Holdings expects higher pretax profit despite cost base hits

(Alliance News) - Van Elle Holdings PLC said on Tuesday that it expects higher pretax profit for the six months that ended October 31, despite cost base hits across the period.

The Nottinghamshire-based ground engineering contractor said it predicted its pretax profit to be GBP3.0 million, up 58% from GBP1.9 million from a year ago. It added it expected revenue to increase by 35% to GBP81 million from GBP60.1 million.

This offset increased inflation, wage, fuel and materials costs hitting its cost base, despite reporting it noticed some easing in supply chain disruption.

Van Elle Holdings said it expected performance for the following six months to be sustained slightly above market expectations, despite its usual lower activity during the winter months.

Its order book stood at GBP49 million on October 31, up 26% from GBP39 million on June 30.

Shares in Van Elle Holdings were up 7.9% to 48.00 pence in London on Tuesday midday.

By Greg Rosenvinge; [e-mail]

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