Proactiveinvestors United Kingdom Van Elle Holdings https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Van Elle Holdings RSS feed en Tue, 25 Jun 2019 16:31:24 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190508070005_14065685/ Wed, 08 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190508070005_14065685/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190502163401_14061497/ Thu, 02 May 2019 16:34:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190502163401_14061497/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190502070005_14060238/ Thu, 02 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190502070005_14060238/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190430073003_14056827/ Tue, 30 Apr 2019 07:30:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190430073003_14056827/ <![CDATA[News - Van Elle warns on profits but encouraged by cost-cutting, order book ]]> https://www.proactiveinvestors.co.uk/companies/news/219173/van-elle-warns-on-profits-but-encouraged-by-cost-cutting-order-book-219173.html Shares in ground engineer Van Elle Holdings PLC (LON:VANL) jumped on Friday in spite of a profit warning on the back of recent contract delays.

The UK-focused construction services group revealed that sales in the year to 30 April are likely to come in 3% lower-than-expected as economic uncertainty in the past quarter had weighed, in particular on the infrastructure sector.

READ: Cracks widen at Van Elle as order delays hit specialist division

While volumes in the fourth quarter have been the strongest in the financial year, along with encouraging progress in winning work, the awarding of “some” contracts and the start dates of others have been delayed by clients.

The lower sales is expected to result in the group adjusted profit before tax to be “slightly below the lower end of the range of market expectations”, Van Elle said.

Brighter news was to be had elsewhere, with greater cost savings than previously guided as streamlining efforts under new chief Mark Cutler’s three-phase transformation programme continued, while margins in the Piling business were said to be improving and better cash management has seen net debt shrink below previous forecasts.

Going into the new year, some Smart Motorway contract wins and improved levels of housing sector work lifted the order book to £35mln, up from £25mln a year before, with hopes for a further £25mln of contracts.

Despite the market uncertainty, with fourth quarter run-rate expected to “remain solid into the forthcoming year” the board said it was “very encouraged” that Cutler’s improvements were “generating tangible operational and commercial benefits”.

House broker Peel Hunt saw “rays of hope” from the work pipeline improvements and changes brought in by Cutler, upping its rating on its client to 'add' from 'hold' after the 40%-plus fall in the share price since the start of the year. 

Van Elle shares had rallied more than 10% to 48.96p by mid-morning, reversing almost all their decline over the past month.

-- Adds broker rating change -- 

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Fri, 26 Apr 2019 09:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219173/van-elle-warns-on-profits-but-encouraged-by-cost-cutting-order-book-219173.html
<![CDATA[RNS press release - Full year trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190426070010_14052764/ Fri, 26 Apr 2019 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190426070010_14052764/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190129135038_13950636/ Tue, 29 Jan 2019 13:50:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190129135038_13950636/ <![CDATA[News - Cracks widen at Van Elle as order delays hit specialist division ]]> https://www.proactiveinvestors.co.uk/companies/news/212681/cracks-widen-at-van-elle-as-order-delays-hit-specialist-division-212681.html foundations specialisVan Elle PLC (LON:VANL) tumbled by a third as it accompanied halved first half profits with a warning of order delays.

New chief executive Mark Cutler had already flagged weak numbers in housing and infrastructure but the slowdown in the specialist arm is an additional problem.

Revenues in the half year to October fell 18% to £42.9mln, while profits dropped to £2.36mln from £5.33mln.

House Peel Hunt lowered its expectations for the current year by 30% as a result of today’s update and by 17-18% for the next financial year.

The broker also lowered its price target to 65p from 100p and its investment rating to 'hold' from 'buy'.

Cutler said he expects the second half to be stronger and was optimistic about a recovery in the fourth quarter of the year.

Van Elle shares fell 30% at 55.5p.

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Wed, 16 Jan 2019 08:45:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212681/cracks-widen-at-van-elle-as-order-delays-hit-specialist-division-212681.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190116070003_13935903/ Wed, 16 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20190116070003_13935903/ <![CDATA[RNS press release - Half Year Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20181210070004_13896654/ Mon, 10 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20181210070004_13896654/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20181019131142_13835960/ Fri, 19 Oct 2018 13:11:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20181019131142_13835960/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180918165528_13795543/ Tue, 18 Sep 2018 16:55:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180918165528_13795543/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180831103455_13774649/ Fri, 31 Aug 2018 10:34:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180831103455_13774649/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180813130003_13753323/ Mon, 13 Aug 2018 13:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180813130003_13753323/ <![CDATA[RNS press release - Dividend record date ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180726164322_13733225/ Thu, 26 Jul 2018 16:43:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180726164322_13733225/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180725070007_13730036/ Wed, 25 Jul 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180725070007_13730036/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180518070005_13646121/ Fri, 18 May 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180518070005_13646121/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180516130951_13643806/ Wed, 16 May 2018 13:09:51 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180516130951_13643806/ <![CDATA[RNS press release - Trading update and CEO succession process ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180503070003_13628098/ Thu, 03 May 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180503070003_13628098/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180125070004_13508741/ Thu, 25 Jan 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180125070004_13508741/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180119150710_13503349/ Fri, 19 Jan 2018 15:07:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180119150710_13503349/ <![CDATA[News - Van Elle to take up to £4mln hit from Carillion’s downfall ]]> https://www.proactiveinvestors.co.uk/companies/news/190099/van-elle-to-take-up-to-4mln-hit-from-carillions-downfall-190099.html Investors in Van Elle Holdings PLC (LON:VANL) were rocked after the ground engineer said it stood to lose out on up to £4.1mln following the collapse of construction group Carillion PLC (LON:CLLN).

Van Elle carried out regular work for Carillion as a specialist sub-contractor, usually on contracts awarded by Network Rail, and the AIM-quoted firm undertook several jobs as recently as last month.

WATCH: Van Elle Holdings increasing profit and turnover year-on-year

The company estimates that it is owed around £1.6mln from those past contracts, some of which have carried over into the New Year.

With the sale of Carillion’s assets unlikely to cover all of the senior debts owed to the big banks, analysts don’t expect most of the smaller companies to see a penny.

Should that be the case for Van Elle, the firm has warned investors that there would be an “adverse financial impact” on the group.

On top of the money owed for past and ongoing jobs, Van Elle had £2.5mln worth of work lined up with Carillion between now and April – revenues which have now been thrown into doubt.

The company said it was too early to tell what the effect of Carillion’s demise will be on that contracted work, although it will monitor situation closely.

“While it is disappointing to note the Carillion announcement we continue to develop further our strong relationship with Network Rail and its principal contractors, and remain committed to developing high quality solutions in the rail division both for upgrade and maintenance work,” said chief executive Jon Fenton.

Van Elle shares slumped 9.4% to 87p in late-morning trade on Tuesday.

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Tue, 16 Jan 2018 11:20:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/190099/van-elle-to-take-up-to-4mln-hit-from-carillions-downfall-190099.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116090544_13497778/ Tue, 16 Jan 2018 09:05:44 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116090544_13497778/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116090028_13497768/ Tue, 16 Jan 2018 09:00:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116090028_13497768/ <![CDATA[RNS press release - Statement re: Carillion plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116070003_13497296/ Tue, 16 Jan 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180116070003_13497296/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180108151122_13488903/ Mon, 08 Jan 2018 15:11:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20180108151122_13488903/ <![CDATA[RNS press release - Results of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171215165454_13468092/ Fri, 15 Dec 2017 16:54:54 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171215165454_13468092/ <![CDATA[RNS press release - Board response to the Ellis statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171205070007_13453668/ Tue, 05 Dec 2017 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171205070007_13453668/ <![CDATA[RNS press release - Posting of Circular to Shareholders ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171129070007_13447025/ Wed, 29 Nov 2017 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171129070007_13447025/ <![CDATA[RNS press release - Notice of GM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070201_13439791/ Wed, 22 Nov 2017 07:02:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070201_13439791/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070102_13439789/ Wed, 22 Nov 2017 07:01:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070102_13439789/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070005_13439739/ Wed, 22 Nov 2017 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171122070005_13439739/ <![CDATA[RNS press release - Requisition of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171113070004_13428543/ Mon, 13 Nov 2017 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171113070004_13428543/ <![CDATA[RNS press release - Appointment of Non-Executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171101070005_13415763/ Wed, 01 Nov 2017 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20171101070005_13415763/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170912151251_13360306/ Tue, 12 Sep 2017 15:12:51 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170912151251_13360306/ <![CDATA[RNS press release - AGM Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170912070005_13359098/ Tue, 12 Sep 2017 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170912070005_13359098/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170821162044_13336985/ Mon, 21 Aug 2017 16:20:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170821162044_13336985/ <![CDATA[Media files - Van Elle Holdings increasing profit and turnover year-on-year ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/7895/van-elle-holdings-increasing-profit-and-turnover-year-on-year-7895.html Mon, 07 Aug 2017 11:43:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/7895/van-elle-holdings-increasing-profit-and-turnover-year-on-year-7895.html <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170726070003_13307381/ Wed, 26 Jul 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170726070003_13307381/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170606070006_13249982/ Tue, 06 Jun 2017 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170606070006_13249982/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170525070007_13237768/ Thu, 25 May 2017 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170525070007_13237768/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170505070008_13215273/ Fri, 05 May 2017 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170505070008_13215273/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170427070017_13206115/ Thu, 27 Apr 2017 07:00:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170427070017_13206115/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170403070011_13180131/ Mon, 03 Apr 2017 07:00:11 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170403070011_13180131/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170323172742_13169773/ Thu, 23 Mar 2017 17:27:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170323172742_13169773/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170322070006_13166849/ Wed, 22 Mar 2017 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170322070006_13166849/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170306070010_13147662/ Mon, 06 Mar 2017 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20170306070010_13147662/ <![CDATA[RNS press release - Board Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161223070007_013077093/ Fri, 23 Dec 2016 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161223070007_013077093/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161208070010_013059954/ Thu, 08 Dec 2016 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161208070010_013059954/ <![CDATA[RNS press release - Admission and First Day of Dealings on AIM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161026070004_013012750/ Wed, 26 Oct 2016 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15557/LSE20161026070004_013012750/