Piling specialist reports strong interim half year results
Specialist piling contractor Keller has reported strong interim half year results, with revenue and pre-tax profit both up over the six months ended 30 June 2012.
Revenue rose 13% from £545.5m in 2011 to£613.8m, while pre-tax profit jumped three-fold from £3.4m to £11m.
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.
“In addition to the usual seasonal improvement, a recent stepping up of production on several of our major projects will help to support a stronger second half.
“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.
“However, there remains much uncertainty around the macroeconomic outlook and conditions in our construction markets around the world continue to be mixed.
“Longer term, the Group’s geographic diversification and strong financial position, together with the ongoing business improvement initiatives, make it well placed to take advantage of growth opportunities in both existing and new markets.”