Keltbray’s turnover for the financial year ending 31 October 2012 rose 17% from £108m to £126m. Operating profit also rose to £2.6 million.
Growth in 2012 follows a similar expansion in 2011, despite difficult market conditions.
The company’s rail business was responsible for the largest turnover increase on the back of a £46m contract with Network Rail to provide power supply upgrade on the West Coast Mainline from Wembley to Crewe. Keltbray acquired Gamble Rail in 2009 and Aspire Rail Consultants in 2010.
Keltbray’s Demolition & Civils division, which accounts for 70% of group business, also grew but with reduced margins. With a 10-year demolition and asbestos removal framework contract with Magnox and a five-year contract at London Bridge, the order book is healthy.
Chief executive Brendan Kerr, who also owns the business, 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.”