Revenue dips for Redhall but ‘long-term success’ ahead

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Wakefield-based manufacturing and services group, Redhall, has reported a 3% fall in group revenue at £37.8 million for the year ended 30 September 2018.

However, excluding £6.1 million of 2017 revenue associated with ceases operations, group revenue increased by £5 million.

Group adjusted operating profit – excluding exceptional items of £0.2 million – was significantly lower than the £1.4 million reported in 2017.

The group reported its order book at year end at £21 million, representing an increase of 20% compared to £17 million for the same period in 2017.

This value does not include the Framework Agreement with Cavendish Nuclear, which the Redhall anticipates to be worth up to £18 million for the first three years of activity.

“Market conditions remain encouraging in the majority of the Group’s core sectors and the Group benefits from a secure order book and a strong pipeline of opportunities,” said Chairman Martyn Everett.

“We continue to pursue our strategy of the operational transformation of our manufacturing business and believe that this pursuit of operational excellence will deliver long-term success for the Group.”