黑洞社区

Keltbray鈥檚 newly-launched concrete structures arm is expected to deliver the fastest growth at the business - better known for demolition work - and could potentially add up to 拢150m in turnover to the group, the firm鈥檚 executive director Vince Corrigan has told 黑洞社区.

Corrigan, who joined Keltbray at the beginning of last year after 30 years at Sir Robert McAlpine, said: 鈥淲e could make it what we want to make it - be it 拢50m, 拢100m, 拢150m turnover addition to the group.鈥�

Keltbray鈥檚 group turnover is already set to hit around 拢350m in its financial year to the end of this month - up more than a quarter from 拢272m last year - and is on course to push above 拢400m next year.

Keltbray entered the concrete market with the acquisition of the bulk of insolvent Dunne Group鈥檚 assets in August and launched Keltbray Structures soon afterwards with a stated aim of hitting 拢50m turnover in its first year.

The group had already developed a substructures business, but the 鈥渙pportunistic鈥� purchase enables a rapid push into concrete superstructures as well, according to Corrigan.

He added that the extra potential turnover 鈥渨ould be a significant uplift, so there is a need to control it properly鈥�.

Keltbray Structures has picked up work in Scotland and is tendering some major projects in London but has yet to land a sizeable contract.

Corrigan said: 鈥淭he proof of the pudding is in the eating and we are keen to pick up a couple of fairly sizeable tenders that are in train at the moment.鈥�

But Keltbray Structures will be 鈥渧ery cautious鈥� about what it takes on, he added.

鈥淲e鈥檙e not gung-ho about it. We鈥檙e being very cautious at making sure it鈥檚 right for the client and right for us because some of the demands a client can put on trade contractors can be quite onerous and when it鈥檚 a new entity such as Keltbray Structures we need to be as careful as the clients are,鈥� he said.

Corrigan said the group was well placed for at least the next 12-18 months, but he expressed concerns about Brexit fallout hitting the market after this point.

He argued calls on the government to boost infrastructure spending were only part of the solution: 鈥淏ig infrastructure is great, but that won鈥檛 deliver physical work for the specialists for quite a long time and therefore there鈥檚 got to be something in between.鈥�

Keltbray is targeting further work in the rail sector within Network Rail鈥檚 existing control period, as well as eyeing opportunities that could arise from the government鈥檚 housing push, which could yield remediation, groundworks and demolition work.

The firm is also targeting the industrial decommissioning sector, which has projects such as Sellafield and Longannet power station in Scotland which closed earlier this year, as well as keeping on the lookout for the next Earl鈥檚 Court 鈥� the massive West London redevelopment by Capco that Keltbray was involved with from the early stages and is currently still working on - Corrigan said.