In a trading statement today Van Elle said it expects revenue for the six months to 31 October 2024  to be £65m from £68m last time.

The contractor said: “Market conditions have continued to be challenging across all sectors.

“Workload has been subdued in Rail, as the sector transitions from CP6 into CP7, and Highways continues to experience project delays.

“The impact of the Building Safety Act has caused delays to start dates of taller residential schemes however encouragingly the new build housing sector has continued to recover, with a strong pipeline of work planned for delivery throughout the second half of the financial year.”