A strong year for Keltbray across the Group
Keltbray’s CEO Brendan Kerr
Keltbray Group; a leading UK specialist business which offers engineering, construction, demolition, piling, decommissioning, remediation, rail, reinforced concrete structures and environmental services, 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.”
Demolition & Civil Engineering (D&C) - 2016 turnover of £248 million (up 23% from 2015)
This stream, which is the UK market leader in demolition, groundworks and piling operations, while also providing integrated engineering design, sheet piling and asbestos management, experienced strong growth. This was largely driven by the Piling businesses and Keltbray Environmental Solutions. In August 2016 the reinforced concrete structures business named Keltbray Structures was launched and has boosted Keltbray’s service offering and geographical reach, particularly in Scotland.
Keltbray’s D&C business continued to develop its range and skill sets by operating in highly regulated environments and successfully delivering complex projects at London Bridge, Earls Court, Sellafield Power Station, HS2 and Dundee Waterfront.
Rail - 2016 turnover of £100 million (up 85% from 2015)
Keltbray’s Rail business is a UK market leader in rail overhead line electrification design and build, and provides civil engineering and piling works on the rail network. It also supplies electrification and other plant to the rail industry. After many projects were put on hold by the industry in 2015, this business stream regained its projected growth in 2016 by securing frameworks and long-term contracts for Crossrail, Great Western Mainline and Network Rail, although the sector margins remain challenging due to budgetary pressures.
Environmental Materials Management - 2016 turnover of £21.4 million (up 30% from 2015)
This business specialises in the management and remediation of contaminated materials. Key contracts secured included the treatment of construction waste from the Thames Tideway Tunnel and remediation works at the Timberyard Deptford and Crossness Sewage Treatment Works
For more information, please contact Keltbray’s head of communications, Marit Meyer-Bell, on tel. 0786 765 3392 or by email to email@example.com
13th July 2017