Multi-disciplined contractor reports profit increase of over 100 percent.
Keltbray Group today announced its financial results for the year ending 31 October 2016, including an increase in turnover from £272.3 million to £369.4 million. Profit before tax increased to £23.6 million from £10.4 million.
Keltbray Group now directly employs around 1,300 people across its three business divisions: Demolition & Civil Engineering, Rail and Environmental Materials Management; all of which experienced healthy growth during the year.
Keltbray Group’s CEO, Brendan Kerr, said: “We remain focused on continuing to build on our expertise as a specialist contractor which employs, manages and trains our own people. Our goal is to continue to provide an increasingly integrated portfolio of services and invest in our own high-value specialist plant capability. These results reflect this strategy and the large and sometimes very complex technical contracts undertaken in the year, which have a higher risk profile, but provide a higher potential for providing a return in line with the investment we are making to enable us to self-perform these contracts.
“While enquiries started to slow down towards the end of the year and the impact of Brexit remains uncertain, we do expect turnover to increase further in 2017, albeit at a slower pace. The outlook across the Group is encouraging and last year we invested more than £15 million in new demolition, piling, rail and structures plant with improved safety features to position ourselves for further growth.”
