Shares in Van Elle have fallen by over 12% in early trading after the ground engineering contractor stated that its full-year profit is set to be "materially below market expectations".

The company said the challenging trading conditions it experienced through its 2025 financial year have continued into the current one.

It added that its expected improvement across core sectors have "yet to materialise", as a result of spending constraints and delays to contracts starts in all sectors.

Van Elle added that these delays were particularly related to Building Safety Act approvals for high-rise residential buildings.

It stated that due to these factors, the engineering contractor's year-to-date revenues have not increased as anticipated and therefore its full-year trading and profitability is expected to be below market expectations and its 2025 financial year’s results.

Despite this, Van Elle said its medium-term outlook remains "very positive", with opportunities in the growing energy and water sectors.

Val Elle will provide its half-year trading update for the six months to 30 October 2025 in early December.

---