News and Press

Turnover for the year ending 31st October 2009 was £108m, a reduction of 16% year on year, however operating profit increased slightly by 3% to £5.8m. The operating profit margin also improved by 1% to stand at 5.3%. This profit boost despite reduced turnover reflects a strong performance by both Keltbray’s core demolition and civil engineering business, and contributions from our acquisitions in new areas of business. Net cash inflow from operating activities dipped from £9.9m to £7.6m.

We have taken several important steps to secure the future position of the group, including the acquisition of businesses and plant that enhance and extend the services Keltbray can offer clients. These businesses include Pectel, an asbestos removal contractor, and Gamble Rail, a plant hire and contracting business operating exclusively in the rail sector. In addition to strengthening our position through acquisitions, 2009 saw the launch of Keltbray Piling, which commenced trading in the April. We also further expanded our waste treatment and remediation activities.

We have invested £4m on improvements to plant and premises, and having outgrown our current facilities in Wandsworth, we will shortly be relocating our headquarters to modern offices in Esher. The past year has also seen the group widen our geographical reach, with new bases opened in Birmingham, Bridgend, Rugby and Manchester.

Keltbray maintains a strong cash position, which ensures project delivery, but the directors remain cautious of market conditions into 2011 and expect turnover to fall in 2010.

Keltbray Group Chief Executive Brendan Kerr commented; “I am satisfied with Keltbray’s performance against the backdrop of a very challenging and highly competitive market, and would like to thank clients, employees, and suppliers for their contributions. Across the group we focused our efforts on increasing capability, raising skills levels, and creating value added efficient solutions for our clients. This enabled us to achieve a workload which will maintain our business into the future. I firmly believe that Keltbray will emerge stronger from the downturn, able to offer a wider range of integrated, quality services with a renewed commitment to providing the best value for money.”