GrantRail unveils pre-tax profit of £1.8m

GrantRail, the railway track laying and maintenance contractor, has unveiled a pre-tax profit of £1.8m on a turnover in 2005 of £110m.

GrantRail is jointly owned on a 50:50 basis by Dutch construction group Volker Stevin and Corus, the UK steel manufacturer.

The group’s latest results (12 months to 31 December 2005) are a modest improvement over the previous year’s figures.

Network Rail is GrantRail’s main customer. The latest period of 2005 was the second year of national five-year contracts for plain line track renewals as well as switch and crossing installations.

GrantRail has a joint venture with Trackwork to replace track on the JNP section of Tubelines’ PPP on the London Underground network where it continues “to make steady progress”.

One of the notable successes during the period was the award of a multi-million contract by Multiplex Construction.