Keller lifts guidance on improving markets

Keller Group, the engineering group which specialises in ground projects like putting foundation piles in for bridges, had a strong morning after upgrading its full year profit forecasts.

The group says there has been a recovery in most of its main markets, including Australia and the USA.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Profits before tax rose from £3.4m in the prior year to £11m this year and the order book is 27% ahead of 2011.

Justin Atkinson, Keller Chief Executive said: "These results show a strong improvement overall, with three out of four of the group's regions performing significantly better than at this time last year."

He added: "Accordingly, the group's results for the full year are expected to be slightly ahead of the top end of the range of market expectations."

The median forecast among five brokers covering the stock is for profit before tax of £42.55m.

Keller's shares were up 4.6% at 11:00.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.