Keller Group plc (“Keller”), the world’s largest geotechnical contractor, announces its results for the six months ended 30 June 2016.
- Record first half revenue of £850m, up 12%
- Operating profit before exceptional items1 down 6%
- Underlying cash generated from operations up 125% to £41.9m
- Strong performances from North America and EMEA
- Disappointing result from APAC
- Medium-term objectives on track to deliver
- Order book to be executed in next 12 months up 10% on prior year
- Interim dividend up 5% to 9.25p per share
1exceptional items before tax totals £5.2m (2015: £3.0m), primarily relating to the amortisation of acquired intangible assets
2exceptional cash outflows from operations total £2.1m (2015: £25.0m), relating to the 2014 exceptional contract provision
“We have seen an encouraging start to the year in North America and EMEA, our two largest Divisions. APAC made a loss in the period, due to market conditions and project delays, but we expect a return to profitability in the second half of the year. Overall, the Group continues to make good progress against our medium-term objectives, building on our strong market positions and favourable market trends.”
Chief Executive, Keller Group plc
Notes to Editors:
Keller is the world’s largest geotechnical contractor, providing technically advanced geotechnical solutions to the construction industry. With annual revenue of around £1.6bn, Keller has approximately 10,000 staff world-wide.
Keller is the clear market leader in the US, Canada, Australia and South Africa; it has prime positions in most established European markets and a strong profile in many developing markets.