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Van Elle Holdings PLC on Tuesday said trading in the first half of its financial year was resilient in challenging market conditions, and there are reasons for optimism moving forward. The Nottinghamshire, England-based ground engineering contractor said results for the six months to October 31 from continuing operations were in line with the board’s expectations. ‘This reflects a resilient operational performance despite the challenging market conditions, and in particular, the continued delays to Building Safety Act approvals for high-rise residential buildings,’ the firm said in a statement. Revenue from continuing operations is estimated to have risen by 12% to £73 million in the half-year from £65 million a year prior, primarily driven through improving volumes within General Piling and Strata Geotechnics. Van Elle said steadily improving activity levels across the group are encouraging, and it welcomed the announcement by the UK Building Safety Regulator on December 12 confirming that staged applications for all new higher risk buildings will shortly be accepted.This should accelerate Building Safety Act approvals during 2026, Van Elle said. The company said it is confident in delivering results for the full year in line with market expectations for full-year underlying pretax profit from continuing operations of £3.0 million. This would be down from £5.3 million posted in the financial year ended April. Van Elle will release its full interim results on January 26. Shares in Van Elle traded 1.6% higher at 35.05 pence each in London on Tuesday. On Monday, Van Elle said it agreed to sell its Canadian subsidiary for C$4.7 million, about £2.5 million. This will be composed of an initial cash payment of C$2.7 million and a deferred cash payment of C$2.0 million due by July 31 next year. The sale of Van Elle Canada Inc is to 1560169 BC Ltd, a special purpose vehicle managed by Canadian rail contractor Remcan Projects LP. The disposal is expected to be completed on Wednesday this week. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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