In a trading update to shareholders today, Van Elle said that it is maintaining 鈥榮trong momentum鈥� in the business.
For the six months ended 31st October 2022 (the first half of its 2023 financial year) Van Elle expects to report record revenues of 拢81m, up from 拢60.1m for the same period in 2021. Profit before tax is expected to exceed 拢3.0m, up from 拢1.9m.
The half-year results were be published in full towards the end of January.
Van Elle鈥檚 order book at 31st October 2022 increased 26% to 拢49.0m (30th June 2022: 拢39.0m).
The board said: 鈥淎lthough there has been some easing in supply chain disruption during the period, inflation, and in particular wage, fuel and materials costs have continued to impact the group's cost base.聽 These are substantially mitigated through contract price mechanisms as far as possible, however in some cases there is a lag in recovery.鈥�
It concluded: 鈥淲hilst recognising the current economic uncertainty in the UK, strong activity levels are expected to be sustained through the second half of the year, despite the winter months which traditionally deliver lower activity levels due to weather disruptions. The board is pleased with the progress made in the first half of the year and anticipates trading for the full year to be slightly ahead of market expectations.鈥�
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