Redhall chief executive resigns

Simon Foster has resigned from the role for family reasons, with effect from March 31.

In a statement ahead of its annual general meeting today, the Wakefield-based firm said chairman David Jackson will assume Mr Foster's executive responsibilities and in due course a search for a replacement will be undertaken.

Mr Jackson said: "I would like to thank Simon for his considerable contribution in the establishment of the Redhall Group and wish him well for the future."

In a statement this morning, the comapny said that trading in the first quarter of the current financial year was slower than anticipated after the weather affected progress on several major projects.

The firm anticipates trading for the full year will be in line with the board's expectations but, as previously forecast, the first half, second half split will be weighted in favour of the second half.

Redhall said that its 25m bank facilities with HSBC gives it access to committed funds until 2015 and will provide the firm with additional scope to support working capital needs and any future acquisitions.

The company said that the contract pipeline remains strong, particularly in the energy and defence sectors and there are signs that the process sector is improving for the second half.