Interim Results

RNS Number : 3045K

Keller Group PLC

29 July 2013

 



                                                                                                                Monday, 29 July 2013

Keller Group plc

Interim Results for the six months ended 30 June 2013

Keller Group plc ("Keller" or "the Group"), the international ground engineering specialist, announces its interim results for the six months ended 30 June 2013.

Results summary:
	2013	2012
Revenue	£644.6m	£613.8m
Operating profit*	£28.6m	£13.3m
Profit before tax*	£26.8m	£11.0m
Earnings per share*	28.1p	12.4p
Interim dividend per share	8.0p	7.6p

* before exceptional items.

Highlights include:

·    Revenue up 5% and operating profit* more than doubled

·    Strong margin improvement reflects:

o successful completion of major projects

o cost reduction measures

o business improvement initiatives

·    Cash generated from operations of £30.2m (2012: £9.0m)

·    Completion of North American Piling acquisition gives the Group a market-leading position in Canada

·    Interim dividend increased by 5% to 8.0p per share (2012: 7.6p)

Justin Atkinson, Keller Chief Executive said:

"This is a much improved first-half performance, with three out of four of the Group's divisions significantly more profitable than in the same period last year.

"We expect revenue in the second half to be broadly flat year on year, after adjusting for the effect of acquisitions.   However, through careful contract selection and further benefit from our business improvement initiatives, we also expect to report an improved margin, taking us closer towards our 6% target.

"Accordingly, the Group's results for the full year are expected to be towards the top end of current market expectations."

For further information, please contact:

Keller Group plc	www.keller.co.uk
Justin Atkinson, Chief Executive	020 7616 7575
James Hind, Finance Director
RLM Finsbury
Gordon Simpson, Rowley Hudson		020 7251 3801

A presentation for analysts will be held at 9.15 for 9.30am at The London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS

A live audio webcast will be available from 9.30am and, on demand, from 2.00 pm at

http://www.axisto-live.com/investis/clients/keller/presentations/51dbfa667614b00e4b013fbb/interim-results-2013

Forward-looking Statements

This statement contains forward-looking statements which have been made in good faith based on the information available at the time of its approval.   It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of risks and uncertainties that are inherent in any forward-looking statement which could cause actual results to differ materially from those currently anticipated.

Notes to Editors:

Keller is the world's largest independent ground engineering specialist, providing technically advanced and cost-effective foundation solutions to the construction industry. With annual revenue of around £1.4bn, Keller has approximately 7,500 staff world-wide.

Keller is the clear market leader in the US and Australia; it has prime positions in most established European markets; and a strong profile in many developing markets.

Please click the link below to access the full statement

http://www.rns-pdf.londonstockexchange.com/rns/3045K_1-2013-7-26.pdf

 

END

 

 

IR UNABROKABUAR