Keller Group ups full year profit guidance

Keller Group, an international ground engineering specialist, delivered a strong performance in the four months to the end of October, with results coming in ahead of its own expectations and ahead of the same period last year.

Keller Group, an international ground engineering specialist, delivered a strong performance in the four months to the end of October, with results coming in ahead of its own expectations and ahead of the same period last year.

The group's 2012 full-year revenue is now expected to be around £1.3bn, in line with market expectations, with full-year profit before tax to be significantly above the current range of market expectations.

The group said the majority of the growth was driven by progress in its North American business, where it has taken advantage of a gradual improvement in the construction market.

A good performance was also seen in Asia, while in Europe, the Middle East and Africa the company is expecting a much improved second half after actions taken in the first. Australia is trading ahead of the previous year.

At the end of October the order book was around 10% above last year.

In a statement the company said: "Looking further ahead, at a macroeconomic level the outlook remains extremely uncertain. Europe continues to face a number of economic and political challenges, whilst the rate of growth in much of Asia appears to be slowing. In the US, where the construction market and economy as a whole are in the early stages of recovery, this recovery is threatened by the "fiscal cliff".

"Despite this backdrop, the board believes that corporate actions taken in recent years mean that the group is better placed than ever to face whatever economic headwinds may materialise. Longer term, we remain confident that our strategy and our strengths will underpin sustained future growth."

NR

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

Best savings accounts – February 2023
Savings

Best savings accounts – February 2023

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
3 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
3 Feb 2023
After slumping 42% last year, what's next for Scottish Mortgage?
Investment trusts

After slumping 42% last year, what's next for Scottish Mortgage?

After a spectacular couple of decades, the Scottish Mortgage Investment Trust fell by 42% last year. We take a look at the trust's performance and dis…
3 Feb 2023