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Growth in the rail sector helped Keltbray post strong financial results for the year to 31 October 2012, with both turnover and profit up.

The firm鈥檚 rail division grew 78% over the period to 拢35.9m turnover, while revenue overall increased 17% to 拢126.4m, from 拢108.3m the previous year.

Pre-tax profit grew to 拢2m, up from 拢39,000 the previous year.

The firm鈥檚 demolition and civil engineering arm 鈥� which accounts for the lion鈥檚 share of turnover 鈥� also grew 5% to 拢85m, up from 拢80.8m.

Keltbray鈥檚 environmental material management business 鈥� which includes its golf course construction subsidiary 鈥� was the only division to shrink, with turnover down 75% to 拢5.4m, from 拢7.2m.

Growth at the rail division came off the back of 67% growth the previous year in 2011.

Keltbray said its strong 2012 results reflected that it was 鈥渞eaping the benefits鈥� of its diversification strategy launched five years ago.

The firm said gross margins fell during the year, but this was offset by an 11%, or 拢2.2m, reduction in administrative expenses to 拢19m.

The firm鈥檚 rail division was boosted by a 拢46m contract to electrify the West Coast Main Line between Wembley and Crewe.

Keltbray launched a rail electrification subsidiary 鈥� Wentworth House Rail Systems 鈥� during the period to capitalise on Network Rail鈥檚 planned 拢9.4bn pipeline of rail electrification works between 2014 and 2019.

The firm鈥檚 demolition and civil engineering arm was boosted by major contracts on the 拢400m redevelopment of London Bridge Station, demolition to make way for 拢768m mixed-use scheme Victoria Circle in west London and a 10-year framework for Magnox.

The firm said the commercial market was 鈥済radually improving and good opportunities have been identified spanning the next three years.鈥� The firm鈥檚 piling division grew 31% during the year.

The environmental material management business 鈥減erformed well鈥�, but the golf course business was hampered by planning rejections and delays.

Owner and chief executive Brendan Kerr (pictured) said: 鈥淒espite the continued levels of uncertainty in the market during 2012, Keltbray continued to experience significant growth.

鈥淲e believe the key to this was our increased ability to provide our customers with an integrated service to meet the needs of diverse and complex contracts.

鈥淲e expect to maintain a consistent growth throughout 2013 by focusing on winning contracts at the right margin levels, and have made significant investments for the future, including 拢3 million in new demolition and groundwork plant, 拢2 million in new road rail vehicles for the overhead line electrification business and 拢2 million in a new haulage fleet.

鈥淭hese investments will help us to reduce our carbon footprint, improve efficiency and safety.

鈥淲e also support more than 40 apprentices and interns across the company, and invest 拢1.2 million in training every year to ensure we have competent people who are ready for new challenges and are developed to their full potential.鈥�