The firm will report its limited exposure to the fall-out at its annual general meeting today.

Van Elle said that while market conditions in the first four months of the new financial year were challenging across all sectors, there were early signs of a recovery in the housing market.

It said that increased enquiry levels and order intake would translate into higher revenues in the second half.

The transition between Network Rail control periods continued to impact rail volumes, with activity levels expected to normalise in the second half.

Van Elle’s order book has increased by 14% since the start of 2025 financial year . A strong pipeline of bidding activity, and several framework agreement wins would see activity levels increase over the next two to three years, predicted the firm.