Keltbray makes 4.2% margin on £130m turnover

Keltbray made a profit margin of 4.2% last year as turnover jumped by a fifth to £130m.

The pre-tax profit of £5.4m was ahead of the previous figure of £5.0m.

The group’s latest annual results cover the 12 months to 31 October 2008. Keltbray’s turnover in 2007 ran to £110m.

Kelbray describes itself as a demolition, sub-structure and superstructure civil engineering group. It is also moving into waste management.

The group’s directors said they were pleased with the latest performance.

During the year, Keltbray bought a controlling interest in Hunts Waste, a waste treatment facility in Dagenham. The price paid resulted in goodwill on acquisition of £5.0m.

In December 2008, Keltbray was on the move again, spending another £3m to buy Pectel, an asbestos removal contractor. It was bought from the liquidator of the Pectel Group.

“While involved in asbestos activities, they also carry out associated building works and have a client base that opens up opportunities for Keltbray with new clients,” said the directors.

They also report that Keltbray is chasing work in rail, London Underground, nuclear and ground remediation.

There is a push to investigate global opportunities and a joint venture has been signed with Gulf General Investment in order to tackle enabling works in the United Arab Emirates.

Keltbray spend over £3m last year upgrading plant and equipment.

Staff numbers rose by 60 to 492. Direct labour now accounts for 358 of the total.

The wages and salaries bill was £21m.

Keltbray’s highest paid director received £920,000 which was well ahead of the previous year’s figure of £690,000.