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Van Elle Holdings has issued a trading update for the year ending 30th April 2026 ahead of its annual general meeting this week.
It said that expected market improvements had yet to materialise, with spending constraints and delays to contract starts across all sectors. Approvals for high-rise residential buildings remains a particular sticking point because of Building Safety Regulator approval delays.
“Due to these factors, year to date revenues have not increased as anticipated,” the company said, “and consequently, full year trading and profitability is expected to be materially below market expectations, and below the prior year.”
Despite current difficulties, the future looks better, with the order book growing from £41.5m at the end of April to £47.3m by the end of July.
“The medium-term outlook remains very positive, with significant opportunities in the growing energy and water sectors, where good early progress is being made,” the company added.
This is Van Elle’s second profit warning in the current calendar year, having also issued one in March ahead of its 2025 financial year results. In July Van Elle Holdings reported a pre-tax profit of £3.0m for the year to 30th April 2025, down from £5.8m the previous year, on revenue down 6% at £130.5m (2024: £139.1m).
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