Keltbray, which is a UK leader in specialist demolition, civil engineering and design, decommissioning, rail, remediation and environmental services, today announced a 15 per cent increase in turnover for the financial year ending 31 October 2013, from £126 million to £145 million. In the 38-year history of the company, this is Keltbray’s best ever performance. Gross profit improved by 29 per cent, and operating profit remained stable at £2.6 million. The Group’s cash position improved to £4 million in hand by year end.
Keltbray Group employs around 800 people and has three reporting streams, including Demolition & Civil Engineering, Rail and Environmental Materials Management, and since reporting on the company’s performance last year, Keltbray has shown a steady growth, which remains ahead of the general market recovery.
Keltbray’s Demolition & Civil Engineering division, which covers around 66 per cent of Keltbray’s business and includes piling, asbestos management, engineering design consultancy as well as haulage and plant increased turnover by around 12 per cent. This is a result of its increasingly integrated services offering, and by securing long term and complex contracts, such as the flagship regeneration projects at The Heygate Estate in London for Lend Lease, and the largest value residential development in Europe for Qatari Diar at Chelsea Barracks.
Keltbray’s Rail division, which covers around 30 per cent of Keltbray’s business and includes overhead line electrification design and build as well as rail engineering and civils projects, grew by 24 per cent and was responsible for the company’s biggest turnover increase. The future rail order book looks strong after Keltbray became the delivery partner for ABC Electrification and Costain to work on a seven-year rail electrification framework contract, which is expected to provide workloads until 2021.
About Keltbray’s 2013 results, Chief Executive Officer, Brendan Kerr (pictured here with Group Managing Director, John Price), said: “I am pleased about the continued strengthening of our performance and our consistent improvements in turnover growth and maintenance of operating margins.
“To meet increasing market demands, we invested a record £9 million in new plant and assets in 2013. We also bolstered our human resources and training functions to manage our future skills and labour requirements effectively.
“In 2013 we also produced our first sustainable development report to record progress we are making in aligning our operations to include a greater awareness of our corporate social responsibilities.
“We expect to continue to stay ahead of the construction market recovery by growing the business in excess of 20 per cent in 2014 based on our good pipeline of work. Our challenge for 2014 and 2015 will be to meet the widely reported skills shortages in our industry by widening the talent pool and continuing to build on our track record of attracting young people to Keltbray by offering good prospects, job security and a range of training and development opportunities.”
Pictures of Keltbray Group CEO, Brendan Kerr, can be downloaded via this link:https://www.flickr.com/photos/keltbray/sets/72157646058845682/
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 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. For more information, see www.keltbray.com