Van Elle saw profits tumble last year after a tough market and losses at its Canadian business dragged down group performance.

The UK’s largest ground engineering specialist posted a pre-tax profit of £4.6m from continuing operations, down from £7.1m last time. Including discontinued operations, total pre-tax profit fell to £3m — nearly halved from £5.8m in 2024.

The Canadian rail subsidiary, now classified as a discontinued operation, clocked up a £1.7m pre-tax loss amid continued delays to the Toronto Metrolinx GO Expansion programme. A strategic review of the business is under way and expected to conclude during the current year.

Group turnover from continuing operations slipped 6% to £130.5m, with General Piling revenue down nearly 19% due to weak demand in London’s high-rise residential market and delays linked to the Building Safety Act.

Chief executive Mark Cutler said: “While FY2025 presented challenges, Van Elle succeeded in delivering a resilient performance and continuing to broaden its range of complementary services, both organically and by selective acquisition.”

Despite the profit drop, the firm kept its total dividend flat at 1.2p and is eyeing big gains in energy markets, predicting revenues of up to £40m a year from this sector by FY2027.

It also flagged a strong £52.7m order book as of June — up 50% year-on-year.