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Keltbray grows but Brexit dampens prospects

Keltbray Group, whose services include demolition, decommissioning, remediation and environmental services, had announced an increase in turnover from £272.3m to £369.4m while profit before tax more than doubled to £23.6m.

Chief executive Brendan Kerr (pictured) said that Brexit had caused uncertainty and, while turnover would increase further in 2017, it would do so at a slower pace.

Around 1,300 people work across the group’s three business divisions of environmental materials management, demolition & civil engineering and rail, all of which were said to have experienced healthy growth during the year.

The financial results for the year ending 31 October 2016 show that turnover for the environmental division was up 30% on 2015 to £21.4m.

The business specialises in the management and remediation of contaminated materials, and 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.

Kerr said: “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.”

  • Meanwhile, Renewi’s chief executive Peter Dilnot has given a three-month trading update ahead of the company’s annual meeting on 13 July. We have started the year strongly. Overall trading in the first three months of the year is ahead of our expectations and our synergy delivery is progressing well. Accordingly, the board is confident of delivering its expectations for the current year.”

 

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