StockMarketWire.com - Engineering group Van Elle said operations had continued to improve since its last market update, with revenue in August at around 80% of normal pre-Covid levels.

In a trading update for its annual general meeting, Van Elle said it had seen further progress in all of its end markets except Rail, which it expected to show improvement in the second half, as previously advised.

The company said its cash position remained 'strong' at around £12m.

It added that it was in the advanced stages of finalising an asset-based lending facility, expected to provide additional balance sheet strength and flexibility.

'It is encouraging to report further progress in our path to return to pre-Covid operating levels,' chairman Frank Nelson said.

'Whilst we don't underestimate the challenges that our markets continue to face in the short term, the board remains confident about the future prospects for the business.'




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