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Specialist contractor Keltbray has posted a 15% increase in revenue, with the firm boosted by a rise in rail and demolition work.

In its accounts for the year to 31 October 2013, Keltbray reported revenue of 拢145m, up from 拢126m the previous year.

The firm was boosted by growth in its demolition and civils business, which grew revenue to 拢96m, up from 拢85m the previous year, and  its rail arm, which grew revenue to 拢45m, up from 拢36m.

But Keltbray鈥檚 environmental business, which manages contaminated material, reported a fall in revenue to 拢4.6m in the year to 31 October 2013, down from 拢5.4m the previous year.

Despite increased revenue the firm reported a 3% fall in pre-tax profit to 拢1.91m in the year to 31 October 2013, down from 拢1.97m the previous year.

The fall in profitability was largely driven by an increase in administrative expenses to 拢24.8m in the firm鈥檚 2013 accounting year, up from 拢19m in 2012, and a decrease in 鈥渙ther operating income鈥�, which fell to 拢510,566 in 2013, down from 拢799,144 in 2012.

Writing in the accounts Keltbray finance director John Keehan said improved returns in the firm鈥檚 asbestos business had helped boost its demolition and civils arm鈥檚 results.

He added: 鈥淭he level of [demolition and civils] enquiries remains satisfactory and the uncertainty surrounding project start dates has reduced, reflecting more confidence in the market.鈥�

Keehan also said he expected the firm鈥檚 rail arm to benefit from Network Rail鈥檚 increased spending over its current five year spending period, which runs until 31 March 2019.