Van Elle wins £13m contract with 'key customer'

Ground engineering contractor Van Elle announced a further major contract win with an unnamed “key customer” on Monday, in the energy sector.

The AIM-traded firm said the project in the south east followed the award of a similar scheme in the Midlands, announced on 17 May, which it said was “progressing well”.

It said the new contract was valued at around £13m, and was due to start on site before Christmas and complete mid-way through the 2024 financial year.

All works would be delivered by the company’s general piling division.

The board said the contract built its order book, and would contribute towards meeting consensus expectations.

“The energy sector is a particular focus for Van Elle given its long-term growth characteristics and our strong track record,” said chief executive officer Mark Cutler.

“We are very pleased to be announcing a second significant contract award in the sector this year.”

At 0934 BST, shares in Van Elle Holdings were up 7.53% at 41.4p.

Reporting by Josh White at Sharecast.com.