Land reclamation contractor VHE Holdings claims to have turned the corner since it recorded a £7.8m loss in the year to 31 March.

Speaking at the firm’s annual general meeting, chairman Mike Laycock said: “All our operating companies are now profitable. We have a strong order book of £31m and are pursuing a number of excellent contract opportunities.”

VHE, which is based in Barnsley, made the loss after a legal dispute with English Partnerships over a scheme at Leabrook Road in Birmingham left the firm out of pocket.

Laycock joined the firm as non-executive chairman after chairman John Parkinson resigned in June. His appointment, together with those of Brian Dawes and Paul Gerrard, who joined the board, were ratified at the meeting. Gerrard is the new managing director of VHE Construction.