Colas Rail UK has delivered increased turnover and profits in its latest financial results thanks mainly to its construction division, with a surge in secured future revenues also reported.
Revenue for the year ended 31 December 2023 was £403.6 million, up from the £365.6 million achieved in the previous financial period, generating a pre-tax profit of £27.8 million (FY2022: £17.1 million).
The construction business continues to be the main contributor to group revenue, representing 69 per cent of total company income, with freight & maintenance contributing the remainder.
At the year end, Colas’ order book was valued at £958 million, compared to £884 million recorded the year before.
“The company has continued to make significant strategic and operational progress in the year, continuing to focus on safety, operational delivery, and improving quality,” said Colas.
The London-headquartered rail infrastructure specialist reported an operating profit of £19.7 million, compared to £17.5 million recorded the year prior.
At the year end, Colas Rail UK’s balance sheet had net assets and total equity of £141 million, compared to £137.5 million recorded the year before, with cash reserves of close to £16 million, roughly in line with FY2022.
Colas posted profit for the year of £19.3 million, ahead of £14.7 million recorded the year prior.
The directors did not recommend the payment of a final dividend (FY2022: £Nil).
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