Rail business boosts Keltbray results

Grant Prior 11 years ago
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Demolition and civils specialist Keltbray has posted another year of rising profits and turnover led by the firm’s expanding rail divison.

Results for the year to October 31 2012 show turnover up to £126m from £108m last time while pre-tax profits hit £1.96m from £38,900 last time.

Keltbray Group currently employs around 800 people across its three divisions -, Demolition and Civil Engineering, Rail and Environmental Materials Management.

The Rail business was responsible for the largest turnover increase on the back of its £46m contract with Network Rail to provide power supply upgrade on the West Coast mainline from Wembley to Crewe.

The core Demolition & Civils division represents around 70% of Keltbray’s revenue.

Turnover continued to rise at the division but with reduced margins.

Recent contract wins for the division include work at Victoria Circle, a five-year contract at London Bridge and a 10-year framework contract with Magnox for the de-planting, demolition and bulk asbestos removal at nuclear reactor sites across the UK.

Owner and Chief Executive Officer, Brendan Kerr, said: “Despite the continued levels of uncertainty in the market during 2012, Keltbray continued to experience significant growth.

“We believe the key to this was our increased ability to provide our customers with an integrated service to meet the needs of diverse and complex contracts.

“We expect to maintain a consistent growth throughout 2013 by focusing on winning contracts at the right margin levels, and have made significant investments for the future, including £3m in new demolition and groundwork plant, £2m in new road rail vehicles for the overhead line electrification business and £2m in a new haulage fleet.

“These investments will help us to reduce our carbon footprint, improve efficiency and safety.

“We also support more than 40 apprentices and interns across the company, and invest £1.2m in training every year to ensure we have competent people who are ready for new challenges and are developed to their full potential.”

 

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