On Friday 31 July, leading UK contractor Keltbray reported positive financial results for its financial year that ended on 31 October 2013 – the company saw overall turnover rise by 15% to £145 million (US$249 million), up from 126 million (US$212 million) for the same period to 2012. In a company statement, it said that this was the best performance ever seen in the company’s 38 year history. Keltbray also said that gross profit improved by 29%, with operating profit remaining stable at £2.6 million (US$4.4 million).
The company’s demolition and civil engineering division, which accounts for some 66% of its business saw turnover increase by 12% - this it said was due to its increasingly integrated services offering, and by securing long term and complex contracts, such as the flagship regeneration projects at The Heygate Estate in London for Lend Lease, and the largest value residential development in Europe for Qatari Diar at Chelsea Barracks.
Its rail division, which accounts for 30% of its business, saw a turnover growth of 24% that was responsible for the company’s largest increase in turnover. Chief Executive Officer Brendan Kerr said of these results: “I am pleased about the continued strengthening of our performance and our consistent improvements in turnover growth and maintenance of operating margins.”
“To meet increasing market demands, we invested a record £9 million (US$15.2 million) in new plant and assets in 2013. We also bolstered our human resources and training functions to manage our future skills and labour requirements effectively. In 2013 we also produced our first sustainable development report to record progress we are making in aligning our operations to include a greater awareness of our corporate social responsibilities.”
“We expect to continue to stay ahead of the construction market recovery by growing the business in excess of 20% in 2014 based on our good pipeline of work. Our challenge for 2014 and 2015 will be to meet the widely reported skills shortages in our industry by widening the talent pool and continuing to build on our track record of attracting young people to Keltbray by offering good prospects, job security and a range of training and development opportunities.”