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The retained part of Keltbray posted improved turnover and profit last year, figures now filed at Companies House show.

Keltbray sold its infrastructure business to private equity last summer with that company renamed Aureos at the end of last year.

The sale, which includes its rail and highways business, meant Keltbray returned to its building roots and now concentrates on ground engineering, demolition, sub and super structure work as well as construction plant.

In accounts for the year to 31 October last year, Keltbray Built Environment posted a 17% rise in revenue to 拢364m and a pre-tax profit of 拢3.2m from 拢44,000 last time.

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The number of staff at the business was up 12% to 600 people while cash at the bank at the year-end was up from 拢2.1m to 拢7.9m.

The firm added that it will pay its 拢18m penalty for its role in the demolition sector鈥檚 bid rigging scandal over three years.

Last December, it lost its appeal against the original 拢16m fine it was hit with in 2023 by the Competition and Markets Authority (CMA) when it and nine others were fined a total of 拢60m for their involvement in bid rigging.

Keltbray, which was found guilty of eight bid rigging infringements, immediately appealed the amount, arguing that it was excessive.

Elsewhere, the firm said it has secured 拢350m-worth of work for the current financial year and in the accounts added that it had 鈥渟tepped away from a number of bids which were deemed to be below the minimum margin required鈥�.

Last month, Keltbray agreed a 拢30m credit deal with Metro Bank which is split between a 拢10m overdraft facility and a 拢20m revolving credit facility.

Meanwhile, turnover at Keltbray Group, which includes eight months of figures from the now disposed of infrastructure business, fell 9% to 拢624.5m. Pre-tax losses increased from 拢1.2m to 拢8m.

In a note accompanying the accounts, it said that the CMA claim had seen it spend 拢12.8m during the year which, it added, 鈥渞elate[s] to the settlement of claim and legal costs鈥�.