Keller Group plc (“Keller”), the world’s largest geotechnical contractor, announces its results for the six months ended 30 June 2016.

Highlights

  • 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.”

Alain Michaelis
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.

Published on
1 Aug 2016