Redhall upbeat about the future

Wakefield-based Redhall is focusing its sights on high margin takeover targets that will complement its existing operations.

Redhall reported a 12 per cent increase in revenues to 145m for the year to September 30. Underlying pre-tax profits rose nine per cent to 7m.

The group described it as a strong performance given the competitiveness of the market.

The energy division traded "satisfactorily" with increased operating profits, but the defence business traded "exceptionally well" with operating profits almost double last year.

The process division traded below expectations and Redhall said steps have been taken to address this.

David Jackson, chairman of Redhall, said: "A pleasing performance in difficult market conditions reinforces our belief that we are delivering on our sound strategy.

"The medium and long term prospects of this group remain extremely good. We are confident that we have positioned the business in key sectors in growth markets and in particular we are looking forward to the start of the Nuclear New Build programme where we have a lot to offer.

"We are pleased to report that the group has produced an improved trading result in the face of difficult market conditions. The specialist nature and spread of our businesses has enabled us to maintain our overall margin whilst increasing revenue by more than 12 per cent."