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VolkerWessels net profit rises 31% year-on-year

VolkerWessels’ results for the first half of 2011 show a rise in turnover, net profit and orders compared to the same period in 2010, thanks to the favourable Canadian market.

Turnover was 12% higher than in the first half of 2010, at €2.1bn (£1.8bn) compared to £1.6bn. Net profit increased to £21.4M, 31% higher than the same period last year, when net profit was £16.3M. The order book increased too, by 17%, reaching £4.9M for the first half of 2011 — compared to £4.2M for the first half of 2010.

VolkerWessels board chairman Gerard van de Aast said the results had improved the company’s market position. VolkerWessels said that although market conditions in two of its “home markets” — the Netherlands and the UK — remain poor, the economic prospects for its third home market — Canada — are positive.

A number of significant orders have also been won in the Netherlands, the UK and Canada as the second half of 2011 got underway, the company said, but it admitted that increasing price pressure will cause pressure on operational margins.

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