Van Elle, the Nottinghamshire groundworks engineering giant, is set to make job cuts in a move it says will save it over £1m.
The move comes as Kirkby in Ashfield-based Van Elle posted a trading update ahead of its annual results for the 12 months to the end of April. Group revenue is likely to be down 12% on a like-for-like basis at £140m. Profits are expected to come in at £5m – in line with expectations.
The firm puts the slip in turnover and the expected redundancies down to “prevailing market conditions” in the housing and infrastructure sectors being impacted by lower levels of demand and delays. A spokesperson for the company couldn’t confirm how many jobs would be lost.
Van Elle’s order book as of March 31 was £36.8m – up from £30.8m in 2023.
Van Elle says the acquisition and subsequent integration of Rock & Alluvium, which is bought from Galliford Try last November, has progressed “in line with expectations” and the business is trading profitably with volumes approximately 30% above those pre-acquisition.
A statement from the company said: “Both the housing and infrastructure sectors are widely expected to recover in the near term, and whilst timing remains uncertain, the group will benefit from increased volumes. Van Elle is also developing a strong position in the water and energy sectors, which are both expected to contribute materially to activity levels from FY26 and beyond.
“The board remains conservative on the timing of a full recovery in the housing sector, but the Group is seeing early signs of progress with order intake and rig utilisation increasing over the last three months.”