Complex contracts boost turnover and profits at Keltbray

Grant Prior 4 months ago
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Keltbray Group has enjoyed increases in turnover and profit as the firm continues to extend the specialist services it offers.

CEO Brendan Kerr is expecting growth rates to slow down this year

The company made its name in demolition but now also offers engineering, construction, piling, decommissioning, remediation, rail, reinforced concrete structures and environmental services.

The expansion has seen turnover for the year ending 31 October 2016 increase from £272.3m to £369.4m while pre-tax profits rose to £23.6m from £10.4m.

Keltbray now directly employs around 1,300 people across its three business divisions – Demolition & Civil Engineering, Rail and Environmental Materials Management.

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 £15m in new demolition, piling, rail and structures plant with improved safety features to position ourselves for further growth.”

Divisional Performance:

Demolition & Civil Engineering  – 2016 turnover of £248m (up 23% from 2015)

Rail – 2016 turnover of £100m (up 85% from 2015)

Environmental Materials Management – 2016 turnover of £21.4m (up 30% from 2015)

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