Keller Group PLC Annual General Meeting and trading update (7929E)
May 11 2017 - 1:01AM
UK Regulatory
TIDMKLR
RNS Number : 7929E
Keller Group PLC
11 May 2017
For immediate release Thursday 11 May, 2017
Keller Group plc
Annual General Meeting and trading update
Keller Group plc ("Keller" or "the Group"), the world's largest
geotechnical contractor, issues a trading update ahead of its
Annual General Meeting to be held at 11.00am today.
Trading
There has been no significant change in market trends since we
reported the Group's 2016 results on 27 February. For the Group as
a whole, both revenue and profit in the four months to the end of
April are ahead of last year.
Our North American division has had a solid start to the year,
albeit behind the very strong first four months in 2016. EMEA has
continued its growth trend of recent years, helped by ongoing good
contract execution on large projects. APAC's results show a
significant year on year improvement with encouraging growth in
revenue although, as expected, the division still recorded a loss
in the period.
Tendering activity and contract awards remain generally healthy.
The order book has increased during the year and, at the end of
April, the Group order book of work to be undertaken over the next
12 months was 15% higher than at the same time last year.
As a result, the Group remains on course to meet the Board's
expectations for the full year.
Financial Position
Keller announced a property disposal today for a cash
consideration of GBP62m, which reduces the Group's net debt to
EBITDA ratio by 0.3x. Apart from this, there has been no material
change in the financial position of the Group since the
announcement on 27 February 2017 of the results for the year ended
31 December 2016.
Keller will announce its interim results on 1 August 2017.
For further information, please contact:
Keller Group plc www.keller.com
James Hind, Finance Director 020 7616 7575
Finsbury
Gordon Simpson, Theo Hildebrand 020 7251 3801
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 GBP1.8bn, 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.
LEI: 549300QO4MBL43UHSN10
This information is provided by RNS
The company news service from the London Stock Exchange
END
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