Van Elle (#VANL) – “exit rate revenues at the end of the financial year returned to pre-pandemic levels”

Van Elle (#VANL) – “activity levels steadily recovered… revenues in September and October reached pre-Covid levels, enabling the group to trade profitably”

Van Elle Holdings – following “pleased to make” AGM statement, LTIP awards… for shares at 2p each!

On Monday Van Elle Holdings (VANL), “the UK's largest ground engineering contractor”, was “pleased… operations have continued to improve… cash position remains strong at c. £12m… has a clear focus on the medium term strategy to improve the operational performance of the business, alongside developing positions for differentiation and growth with key customers in the housing, infrastructure and construction sectors” and Frank Nelson was “delighted to take over as Chairman”. Today “Director/PDMR LTIP Awards”...

Van Elle (#VANL) – “further progress… revenue in August was approximately 80% of normal pre-Covid levels”

Van Elle – placing ensuring “the company is well placed and sufficiently capitalised”… or not?...

“Van Elle Holdings plc (AIM: VANL), a leading UK geotechnical engineering company offering a wide range of ground engineering techniques and services to customers in a variety of UK construction end markets, announces that further to its COVID-19 update announced on 26 March 2020, the company is undertaking a placing to raise gross proceeds of approximately £6.67 million”. The shares are currently circa 6% lower in response…

Van Elle – “Trading Update”. Not ‘pleased to issue’?

“Van Elle (VANL), the UK's largest ground engineering contractor, is issuing the following trading update ahead of the announcement of its results for the six months to 31 October 2019”. Hmmm – not ‘pleased to issue’?...

Van Elle (#VANL) – Q2 “stronger” than “subdued” Q1, believes on-track for FY “within the range of market expectations”

Van Elle – “despite the encouraging momentum at the end of last year,” Uh oh…

Previously writing on ground engineering contractor Van Elle (VANL), in May I noted after another profit warning last month, “Directorate Change”, concluding I previously noted so here “continues to make good progress on its transition plan” = another profit warning! And previous “positive momentum” swiftly turning into a warning on trading, adding to a litany of woe. As such, at least ahead of some clear financial delivery, I continue to avoid. Now a “Trading Update”…

Van Elle (#VANL) – some adverse FY adjustments, “continuing to experience customer uncertainty”

Van Elle – after another profit warning last month, “Directorate Change”…

Last month geotechnical engineering company Van Elle (VANL) updated including then current-year performance below expectations but that it “continues to make good progress on its transition plan” and that “momentum entering the new year underpins the board's confidence in the prospects for the group”. Today a “Directorate Change” announcement…

Van Elle – “the business continues to make good progress on its transition plan”… does it?

Geotechnical engineering company Van Elle (VANL) has updated commencing, “The business continues to make good progress on its transition plan, announced in January”. The shares have responded higher – but a still sub 50p share price compares to 80p at the start of 2019…

Van Elle (#VANL) – expects FY “adjusted PBT slightly below the lower end of the range of market expectations”, uncertainty in its markets

Van Elle – first-half “in line with revised expectations”… so why a 25% share price slump?

Last month geotechnical engineering company Van Elle (VANL) emphasised “positive momentum”, but I noted I was particularly cautious of the “greater second half weighting” it envisaged. The shares were then just below 80p. Today there’s half-year results including “trading in H1 was in line with revised expectations”… but the shares are currently approximately 25% lower, at around 60p, on the back of the announcement…

Van Elle – emphasises “positive momentum”… so why a further share price fall?

Having listed on AIM at 100p per share in late 2016 and the shares having recently slid towards 80p, a half-year trading update from geotechnical engineering company Van Elle Holdings (VANL) includes “new contract starts have progressively gained momentum”, “gross margins have continued to improve” and “the positive momentum exiting the first half has continued into the start of the third quarter and the group's orderbook at 31 October 2018 was 16% ahead of last year at £32m”. So why have the shares responded further lower, below 80p?...

Van Elle (#VANL) – H1 down, “strong second half performance required”

Van Elle – argues growth “against a strong comparative period”, but what about against expectations?

In January, as the shares slid below 90p, I was cautious on geotechnical contractor Van Elle (VANL). There’s now a “Trading update and CEO succession process” announcement…

Van Elle (#VANL) – warns, noting recent “more challenging market conditions”. CEO change

Van Elle – Carillion exposure update, interims due soon

Geotechnical engineering contractor Van Elle (VANL) has updated regarding the demise of Carillion plc as it “carries out regular work for Carillion as a specialist lead sub-contractor, principally in respect of rail improvement and maintenance work where Network Rail is the end customer”…

Van Elle (#VANL) – approx. £1.6m outstanding debt and work-in-progress exposure with Carillion

Van Elle – wins at EGM… but founder warns again

Previously writing on Van Elle (VANL) I noted the founder-seeking-to-return EGM requisitioner hits out again ahead of the meeting. The company has since been “pleased to announce that, at the General Meeting… all the Ellis Resolutions were defeated by shareholders” - and Michael Ellis has responded…