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Mon June 14 2021

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Covid sends Van Elle into the red

20 Jan Foundations contractor Van Elle is blaming the Covid-19 pandemic for its half-year pre-tax loss.

For the six months to 31st October 2020, Van Elle made an interim pre-tax loss of £700,000 (2019: £900,000 profit).

Revenue was down more than 20% to £38.3m for the first half.

The May to July period was significantly impacted by the downturn in the wider construction market caused by Covid-19 restrictions, the company said. As the summer progressed, activity recovering to pre-Covid levels and the company returned to profitability in September and October.

Chief executive Mark Cutler said: "Despite the evident disruption in the first half of the financial year, we have made considerable progress in advancing our strategy and enter the second half with confidence that we are well positioned to benefit from the resumption of normalised industry conditions.

"We are cautiously optimistic about the remainder of this year and into next, with well-established safe working practices and improving activity levels in our key sectors."

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