Keller Group plc (“Keller” or “the Group”), the international ground engineering specialist, is pleased to announce its interim results for the six months ended 30 June 2009.
Highlights include:
- Revenue* of £552.6m (2008: £568.7m) down 3%
- Profit before tax* of £41.0 m (2008: £54.2m)
- Cash flow from operations £40.1m (2008: £43.6m)
- Net debt of £95.3m, 0.7 times annualised EBITDA
- Over £100m of unutilised bank facilities
- Basic earnings per share* down 18% to 42.1p (2008: 51.6p)
- Interim dividend per share increased by 5% to 7.25p (2008: 6.9p)
- Expectations for the full year remain unchanged
* from continuing operations
Justin Atkinson, Keller Chief Executive said:
“Whilst there are a few encouraging signs, conditions in most of our markets remain tough. However, I am confident that over the longer term we will emerge from these difficult conditions in good shape, to take full advantage of the upturn in our markets when it comes.
“Today Dr Michael West, who has been our Chairman for the past 14 years, retires and hands over to Roy Franklin. On behalf of the Board and all the Group’s employees, I would like to thank Mike for his pivotal role in creating and growing the world-class business that Keller has become.”
A presentation for analysts will be held at 9.15 for 9.30am at the Theatre & Gallery,
London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS
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