Keltbray Group has announced a 50% increase in turnover for the financial year ending 31 October 2014.

The increase, from £144.7 million to £219.9 million, is the company's best performance in its 39 year history.

Gross profit increased by 40% from £26.9 million to £37.6 million, while operating profit before interest was £7.9 million (3.7%), an increase of £5.4 million from 2013.

The group's cash position improved from £3.8 million to £10.4 million in hand at the year end.

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Keltbray’s Demolition & Civil Engineering business stream increased turnover by over 66%, while its Rail business sector grew by 9%.

The group's CEO, Brendan Kerr, said: "2014 saw a continued strengthening of our performance. This improvement has been driven by the demolition and civil engineering business stream, where experienced project teams supported by our in-house design capability, provide innovative solutions and delivery on complex challenging projects such as Earls Court, Bradwell Power Station, Angel Court and London Bridge stations.

"We do not anticipate another year of 50% growth but will achieve double digit turnover growth in 2015 and look forward to developing our existing and new businesses aligned with our core sectors."

(LM/MH)