Keltbray, which is a UK leader in specialist engineering, construction and decommissioning services, today announced a 17 per cent increase in turnover for the financial year ending 31 October 2012, from £108 million to £126 million. During the same period, operating profit also rose to £2.6 million.
The 2012 growth levels are similar to those reported by the company last year, and shows a consistent expansion during a time when the construction market has remained challenging and generally continued to contract.
Keltbray Group employs around 800 people and has three reporting streams, including Demolition and Civil Engineering, Rail and Environmental Materials Management.
The company results show that in 2012, the Rail business was responsible for the largest turnover increase on the back of its £46 million contract with Network Rail to provide power supply upgrade on the West Coast mainline from Wembley to Crewe. The formation of Wentworth House Rail Systems in 2011 to provide dedicated railway infrastructure design also proved successful and in 2012 grew to become one of the largest Overhead Line design consultancies in the country. The secured order book for the Rail business continues to look strong this year, with further major opportunities coming to market as Network Rail move into their new regulatory period.
Keltbray’s Demolition & Civils division, which covers around 70 per cent of Keltbray’s business and includes demolition, specialist civil engineering, groundworks, piling and asbestos continued to grow, but with reduced margins. Going forward, the outlook for Demolition & Civils remains healthy following several significant and long term contract award wins, including work at Victoria Circle, a five-year contract at London Bridge and a 10-year framework contract with Magnox for the de-planting, demolition and bulk asbestos removal at nuclear reactor sites across the UK.
About Keltbray’s 2012 results, Owner and Chief Executive Officer, Brendan Kerr, said: “Despite the continued levels of uncertainty in the market during 2012, Keltbray continued to experience significant growth. We believe the key to this was our increased ability to provide our customers with an integrated service to meet the needs of diverse and complex contracts.
“We expect to maintain a consistent growth throughout 2013 by focusing on winning contracts at the right margin levels, and have made significant investments for the future, including £3 million in new demolition and groundwork plant, £2 million in new road rail vehicles for the overhead line electrification business and £2 million in a new haulage fleet. These investments will help us to reduce our carbon footprint, improve efficiency and safety. We also support more than 40 apprentices and interns across the company, and invest £1.2 million in training every year to ensure we have competent people who are ready for new challenges and are developed to their full potential.”
During 2012, Keltbray secured a RoSPA Gold Award for its health and safety records (it also secured a Gold Award in 2013), and the World Demolition Awards’ Urban Award for Old Bailey / Ludgate Hill contract.
ENDS
More information
For a photograph of Brendan Kerr, seehttp://www.flickr.com/photos/keltbray/9199417397/
For more information, please contact Keltbray’s head of communications, Marit Meyer-Bell, on tel. 0786 765 3392 or by email to [email protected]
Keltbray Group
Keltbray is the UK’s leading specialist engineering, construction, decommissioning and environmental services business providing fully integrated services to meet the needs of diverse and complex projects. We are committed to engineering innovation and industry leadership in health, safety, quality and the environment. Our in-house training focuses the business on excellence and on delivering value to our clients thereby fostering long lasting relationships and partnerships. High profile projects include Europe’s tallest building – The Shard, London’s Thames Link and deplanting at Bradwell Power station.
