Thomas Vale posts 'record profits'

Midlands contractor Thomas Vale has increased turnover to over £250m for the year to 31 March, and announced “record profits”.

The firm said it had “its most successful year of trading in its 142 years existence” although did not give a specific figure.

In addition, the contractor said it had no borrowings, £21m cash in hand and a future workload of £550m.

Mike Wallis, chairman, said: “We continue to focus on cash management, pushing for efficiencies in our business and the supply chains to ensure our competitive edge is maintained and that our clients continue to get added value for money and cashable and non-cashable benefits are brought to the wider communities in which we work.

“With our solid financial foundations and the high quality of our employees, I am confident that the Thomas Vale Group will continue to deliver an exceptional service for our clients,” he said.