Van Elle trading in line in first half

(Sharecast News) - Van Elle Holdings said on Tuesday that first-half trading was in line with board expectations, as resilient operational performance offset challenging market conditions and continued delays to Building Safety Act approvals for high-rise residential developments. The AIM-traded ground engineering contractor said it expected revenue from continuing operations for the six months to 31 October of around £73m, up 12% from £65m a year earlier.

It said the increase was driven primarily by improving volumes in its General Piling and Strata Geotechnics divisions.

Van Elle said it had continued to strengthen its position in the UK's energy and water sectors, where it saw significant medium-term opportunities.

In energy, the group said it was progressing ground investigation and design work on the Beauly to Loch Buidhe transmission scheme for Wood Group and had commenced work on its first transmission projects for M-Group.

In water, Strata Geotechnics secured a place on United Utilities' AMP8 ground investigation framework and was delivering several wastewater treatment schemes for clients including Galliford Try, Kier and Costain.

The board said steadily improving activity levels across the group were encouraging and welcomed confirmation from the Building Safety Regulator on 12 December that staged applications for all new higher-risk buildings would shortly be accepted.

It said that should help accelerate Building Safety Act approvals during 2026 and reiterated its confidence in delivering full-year results in line with market expectations, with consensus underlying profit before tax for continuing operations at £3m.

Van Elle said it would publish its half-year results on 26 January and will host analyst and investor briefings on the day of the announcement.

At 1444 GMT, shares in Van Elle Holdings were up 0.39% at 34.64p.

Reporting by Josh White for Sharecast.com.