UK contractor Keltbray Group has released its financials for the year ending 31 October 2014, which show an increase in turnover of 50%, up from £144.7 (US$225.8) million to £216.9 (US3343.1) million. Gross profit grew 40% from 26.9 m (US$42) million to £37.6 (US$58.7) million.
The company’s Demolition & Civil Engineering division, which accounts for more than 70% its business, saw a growth in turnover of more than 60%, which the company said was the result of securing a good long-term pipeline of work.
According to CEO Brendan Kerr: “2014 saw a continued strengthening of our performance. This improvement has been driven by the demolition and civil engineering business stream, where experienced project teams supported by our in-house design capability, provide innovative solutions and delivery on complex challenging projects such as Earls Court, Bradwell Power Station, Angel Court and London Bridge stations.”
“Our piling and asbestos businesses are now established as major players in their sectors and allow us to offer an integrated service to our clients which cannot be matched in the UK market. As part of our works at Chelsea Barracks, the piling business was awarded a £10 million contract for secant piling that was successfully completed in a tight timeframe of 34 weeks. The asbestos removal business won a large framework contract with Royal Mail covering all their UK properties and a considerable project on the major development at Battersea Power Station. This is likely to be succeeded by further contract awards for our other demolition and civil engineering businesses.