Keltbray Group report strong results
Company pleased with performance as sales turnover increased by a quarter for the financial year ending 31 October 2015
KELTBRAY Group have announced a 25% increase in turnover for the financial year ending 31 October 2015, up from £216.9 million to £272.3 million. The company also reported that gross profit rose by £7.8 million to £45.4 million, representing a 21% increase. Operating profit was £11.6 million, an increase of £3.6 million compared with 2014, and an improvement in margin to 4.3%.
Keltbray Group employ more than 1,000 people working across three divisions: Demolition & Civil Engineering (turnover: £202 million); Rail (£54 million); and Environmental Materials Management (£16 million).
The company’s Demolition & Civil Engineering (D&CE) business stream is a UK market leader in demolition and groundwork operations. The subsidiary also includes an engineering design consultancy, piling and asbestos management. In particular, the piling business enjoyed significant growth to £35 million (2014: £20 million) and the asbestos operation is currently in the top five by size in the UK.
The D&CE division continues to develop its specialist skills with investment in new plant and recruitment of staff to provide a unique diversity of service in the UK demolition, groundworks and piling sectors. Opportunities are now increasingly opening up to combine this capability with other business streams in the rail and remediation markets to further enhance Keltbray’s integrated offering to a wider range of clients. For example, on the Queen Mary Viaduct in London, for Network Rail, Keltbray have undertaken demolition, piling, trackwork and overhead line electrification.
Commenting on Keltbray’s financial results, Brian Kerr, group chief executive, said: ‘Keltbray was formed as an earthmoving and groundworks company in 1976, and it is pleasing to see how we have grown to become an award-winning specialist contractor with a £270 million annual turnover and more than 1,000 employees in our 40th year.’
He continued: ‘Over the past four decades, Keltbray has helped facilitate some of the largest and most iconic construction projects in the country, including The Shard and The Queen Elizabeth Olympic Park Stadium and on major infrastructure projects such as Crossrail and the electrification of The Great Western Mainline. We are now firmly established as one of the country’s largest specialist contractors and are proud of the continued strengthening of our business.’