(Alliance News) - Van Elle Holdings PLC on Friday said it expects its pretax loss to be slightly narrower than market forecasts following a strong recovery in activity levels across most divisions.
The ground engineering contractor expects to report revenue for the financial year that ended April 30 of around GBP85 million, up marginally from GBP84.4 million the year prior.
Trading during the final quarter continued to improve as lockdown restrictions were eased, Van Elle said, with strong performances in March and April and exit rate revenue at the financial year-end returning to pre-pandemic levels.
"The board is encouraged that this increased level of activity has continued into the new financial year, albeit remaining mindful of industry-wide supply chain pressures which are, in some instances, impacting material costs and availability," the company commented.
The group's cash position at April 30 was GBP8.5 million, down from GBP9.8 million at the end of October following its GBP1.8 million acquisition of ScrewFast Foundations.
Shares were up 1.3% at 47.10 pence in London on Friday morning.
Van Elle will announce its final results on August 17.
By Will Paige; willpaige@alliancenews.com
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Van Elle (VANL)