Keltbray turnover jumps 50% on London market recovery

摘要

Turnover at Keltbray Group has soared 50% to £217m on the back of renewed development activity in London. The engineering, construction and demolition specialist saw turnover jump £72.2m to £216.9m in the year to October 2014, up from £144.7m, following a strong performance in its demolition division. Keltbra's pre-tax profit jumped almost four-fold to £7.9m, up from £2.6m. The demolition and civils (D&C) division increased turnover by 65.6% to £158.4m, while the piling and asbestos removal businesses more than doubled in size. Keltbray said that the division's piling and asbestos removal businesses both increased turnover by over 100%. However, it added that "gross margins in the main D&C business were down on 2013, which reflects fewer but more profitable projects in 2013, some loss makers in 2014 and an increase in labour and materials costs as the market improves".