Keller Group plc (“Keller” or “the Group”), the international ground engineering specialist, announces its interim results for the six months ended 30 June 2014.
Highlights include:
- Constant currency revenue is up 33%
- Excluding acquisitions, constant currency revenue increased by 22%
- Operating margin* of 4.5% (2013: 4.4%)
- Cash generated from operations £31.9m (2013: £30.2m)
- EPS* growth of 5%
- Interim dividend increased by 5% to 8.4p per share (2013: 8.0p)
- Net debt of £161.9m (1.2x annualised EBITDA)
Justin Atkinson, Keller Chief Executive said:
“We have seen an improved first-half performance, with all four of the Group’s divisions achieving strong revenue growth compared to the same period last year, despite the adverse currency translation impact.”
“We expect the Group’s results for the full year to be in line with current market expectations and, looking further ahead, we remain optimistic about our long-term prospects. Keller continues to make positive progress against its strategy and is well positioned to take full advantage of future opportunities.”
A presentation for analysts will be held at 9.15am for 9.30am at The London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS
A live audio webcast will be held at 9.30am, and available on demand from 2.00pm, on our website at: http://www.keller.co.uk/investors/results-centre/latest-results
Cautionary Statement
This announcement contains forward looking statements which are 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. Nothing in this document should be regarded as a profits forecast.
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 £1.6bn, Keller has approximately 9,000 staff world-wide.
Keller is the clear market leader in North America, Australia and Southern Africa; it has prime positions in most established European markets; and a strong profile in many developing markets.