We are the world's largest independent ground engineering specialist, renowned for providing technically advanced and cost effective foundation solutions. Our reputation is built on engineering excellence and a commitment to continual innovation.

Our services are used across the construction sector in infrastructure, industrial, commercial, residential and environmental projects. We have unrivalled coverage in Europe, North America, Australia, and South Africa and a growing presence in Asia, the Middle East and Latin America.

With an annual turnover of £1.5bn, we have around 9,000 staff world-wide with offices in more than 40 countries.

Our businesses
http://www.keller.co.uk/aboutkeller/businesses.aspx







Keller adds 7.3 percent after the engineering company reports first-half profits that more than trebled from a year ago.

"Keller's interim results show that the group is now back on the front foot after several difficult years of unprecedented volume declines in most of its key markets," Numis Securities says in a research note.

Numis maintains an "add" rating on Keller shares, while Investec keeps a "buy" rating, describing Keller's results as an "encouraging set of interims."

Acquisition of Esorfranki Geotechnical

RNS


RNS Number : 0696Q

Keller Group PLC

09 October 2013






For immediate release Wednesday, 9 October 2013



Keller Group plc

("Keller" or "the Group")



Acquisition of Esorfranki Geotechnical, South Africa





Keller (LSE: KLR), the international ground engineering specialist, announces that it has agreed to purchase the Geotechnical Division of the Johannesburg-listed civil engineering and construction company Esorfranki Limited (JSE: ESR) for an initial consideration of R500m (£31m).



Esorfranki Geotechnical is the largest ground engineering business in South Africa, offering design and build services to the mining, civil engineering and construction industries, and has a strong track record of executing projects in other Sub-Saharan African countries. In the year ended 28 February 2013, Esorfranki Geotechnical generated revenue of R788m (£49m), of which 46% was earned outside South Africa, and an underlying operating profit* of R53m (£3.3m). At 28 February 2013, the value of the gross assets to be acquired was R630m (£39m) and the business had net assets of R419m (£26m).



In addition to adding a market-leading business run by an experienced management team who will remain with the business, the acquisition will accelerate Keller's entry into selected sub-Saharan construction markets, where significant growth is expected over the medium to long term, fuelled by major infrastructure and resources-related projects. The business will form part of the Group's EMEA division.



The total consideration, to be paid in cash from Keller's existing facilities, will comprise an initial payment of R500m (£31m), on a debt and cash free basis, together with a maximum deferred consideration of R150m (£9.4m) dependent on the achievement of a certain level of profits over the three years following the acquisition.



Completion is expected by the end of November 2013 and is subject, inter alia, to approval by shareholders of Esorfranki Limited at its general meeting on 18 November 2013 and the approval of the South African Reserve Bank.



*: stated before a R24m (£1.5m) profit on the sale of a property



Justin Atkinson, Chief Executive of Keller, said:



"This important acquisition marks another milestone in our strategy of extending our global leadership by expansion into new, higher growth regions.



"The combination of Esorfranki Geotechnical's local knowledge and resources with Keller's scale, experience and broad range of techniques will make us ideally placed to undertake complex major projects requiring design expertise and multi-product solutions in a region where we expect the longer-term opportunities to be significant."


Acquisition of Esorfranki Geotechnical

RNS


RNS Number : 0696Q

Keller Group PLC

09 October 2013






For immediate release Wednesday, 9 October 2013



Keller Group plc

("Keller" or "the Group")



Acquisition of Esorfranki Geotechnical, South Africa





Keller (LSE: KLR), the international ground engineering specialist, announces that it has agreed to purchase the Geotechnical Division of the Johannesburg-listed civil engineering and construction company Esorfranki Limited (JSE: ESR) for an initial consideration of R500m (£31m).



Esorfranki Geotechnical is the largest ground engineering business in South Africa, offering design and build services to the mining, civil engineering and construction industries, and has a strong track record of executing projects in other Sub-Saharan African countries. In the year ended 28 February 2013, Esorfranki Geotechnical generated revenue of R788m (£49m), of which 46% was earned outside South Africa, and an underlying operating profit* of R53m (£3.3m). At 28 February 2013, the value of the gross assets to be acquired was R630m (£39m) and the business had net assets of R419m (£26m).



In addition to adding a market-leading business run by an experienced management team who will remain with the business, the acquisition will accelerate Keller's entry into selected sub-Saharan construction markets, where significant growth is expected over the medium to long term, fuelled by major infrastructure and resources-related projects. The business will form part of the Group's EMEA division.



The total consideration, to be paid in cash from Keller's existing facilities, will comprise an initial payment of R500m (£31m), on a debt and cash free basis, together with a maximum deferred consideration of R150m (£9.4m) dependent on the achievement of a certain level of profits over the three years following the acquisition.



Completion is expected by the end of November 2013 and is subject, inter alia, to approval by shareholders of Esorfranki Limited at its general meeting on 18 November 2013 and the approval of the South African Reserve Bank.



*: stated before a R24m (£1.5m) profit on the sale of a property



Justin Atkinson, Chief Executive of Keller, said:



"This important acquisition marks another milestone in our strategy of extending our global leadership by expansion into new, higher growth regions.



"The combination of Esorfranki Geotechnical's local knowledge and resources with Keller's scale, experience and broad range of techniques will make us ideally placed to undertake complex major projects requiring design expertise and multi-product solutions in a region where we expect the longer-term opportunities to be significant."

Keller reschedules trading update

StockMarketWire.com

Keller Group has amended the date of its interim management statement which will now be released on 19 November.

At 9:46am: (LON:KLR) Keller Group share price was -18.5p at 1031.5p


Story provided by StockMarketWire.com

The sp does seem to have drifted from its highs at the end of September but seems to have recovered half of the sp fall. In IC this week - US worries hit Keller. Keller's US orders have fallen by more than 10% from their peak in July. That's significant because the ground engineering specialist generates over half of its turnover from North America and sentiment there has been dented by the failure to agree a budget and on worries that political wrangling could lead to a US debt default.
Keller is picking up work elsewhere.


Investec securities says - Buy - we expect to see a continued improvement in margins and - with the shares trading on a multiple of 6 x 2014 forecast embedded value to cash profits - we are setting a price target of 1300p . We are increasing our 2014 estimates to £80m of pre-tax profit and EPS of 77.1p reflecting the positive effects of buying Esortranki Geotechnical.


Liberum Capital says - Hold - Keller's South African bolt-on acquisition isn't expected
to deliver any material contributions this year, but we estimate the business will add 3% to 2014's full year earnings. We retain our 1,050p price target.

DC, where do you get your broker snippets from at the bottom of last post?are they in the article in the IC?.

Yes goldfinger, although they are some what different in their thoughts.

Shares - Trading statement Tues 19 Nov (Third quarter)

Ground works Engineering specialist Keller is likely to set the scene for full year results towards the top end of market expectations. Encouraging newsflow during the period includes last months £31 million acquisition of the geotechnical division of South African-based civil engineer Esorfranki and a £33 million contract win in Singapore in Sept.

Interim Management Statement

PRNW



For immediate release Tuesday, 19 November 2013


Keller Group plc

Interim Management Statement

Keller Group plc ("Keller" or "the Group"), the international ground
engineering specialist, issues this Interim Management Statement, covering the
period from 1 July to 18 November 2013.

Overview

The Group's trading in the four months to the end of October has continued the
improving trend established in the first half of the year.

Although there has been no significant change in overall market conditions
since we last reported, our project awards have increased. Accordingly, the
value of the like-for-like order book at the end of October, for work to be
executed over the next 12 months, is now slightly above this time last year.

As expected, revenue has been broadly flat, after adjusting for the effect of
acquisitions. However, the efficiencies driven by our ongoing business
improvement initiatives, combined with very strong final results on some
completed major projects, have generated better-than-expected margin
improvement.

Accordingly, the Group's results for the full year are expected to be slightly
above the top end of current market expectations.

Divisional Review

North America

The US construction market as a whole continues to recover, albeit there are
some indications that the rate of recovery is slowing. Private expenditure on
construction continues to grow, while public expenditure has fallen for the
third consecutive year.

Following a strong first half, our North American business has continued to
perform well. Our US foundation contracting companies are expected to end the
year with both revenue and, in particular, profit significantly ahead of last
year. North American Piling, which we acquired in July 2013 and have rebranded
as Keller Foundations Canada, is performing in line with our expectations at
the time of the acquisition. Our post-tension cable systems business, Suncoast,
continues to benefit from the positive momentum in the US residential sector.

Europe, Middle East & Africa (EMEA)

Conditions in our key EMEA construction markets remain mixed and in those
regions where we have started to see signs of improvement, recovery continues
to be somewhat fragile.

Despite this market backdrop, we expect overall revenue for the full year to be
ahead of last year. In profit terms, the self-help measures implemented by
management continue to bring benefits, which we expect to be reflected in a
much improved full-year operating margin.

In South Africa, Esorfranki Limited has secured shareholder approval for our
acquisition of its geotechnical division, which we announced in October. The
acquisition is set to complete by the end of November.

Asia

Overall, we have seen little change in the conditions in our Asian markets.

Revenue in the last four months has lagged behind the corresponding period last
year, reflecting a slowdown in the Indian market and the absence of a major
project in Malaysia to replace the Vale contract. However, operating profit for
the full year is expected to be close to last year's level, helped by a strong
finish on a number of projects and a good start on the Sengkang hospital
project in Singapore, which together have helped to offset a weaker result in
India.

Australia

As we reported in July, the resources sector of Australia's construction market
has been less buoyant than in recent years and this has not changed discernibly
in the past four months. Nor has there been any improvement in the weak
commercial and infrastructure sectors.

Overall, however, Keller Australia has fared better than the market conditions
might suggest, thanks to a strong performance on some of its larger contracts.
In particular, since our last report, encouraging progress has been made on the
Wheatstone contract, the value of which has now reached A$200m (£116m) and
which we expect will contribute towards a much-improved full-year result.

Financial Position

There has been no material change in the financial position of the Group since
the interim results announcement on 30 July 2013.

Outlook

Given the better-than-expected improvement in the overall margin in the period
to the end of October, driven largely by business efficiencies and strong
contract outcomes, the Group's results for the full year are expected to be
slightly above the top end of current market expectations.

Looking further ahead, we remain optimistic about the long-term prospects for
our sector and our business. Recent acquisitions have increased the Group's
presence in higher-growth regions and we feel that our business is in good
shape to take full advantage of future opportunities.

Keller will issue a pre-close statement in respect of the year ending 31
December 2013 on 19 December 2013.

19 Nov Numis 1,120.00 Add
19 Nov Investec 1,300.00 Buy

22 Nov Jefferies... 1,360.00 Buy

Keller Group: Goldman Sachs raises target price from 1385p to 1480p and stays with its buy recommendation.

Shares - Pre -close statement 19 Dec - recent contract awards which should fuel further growth as the cycle turns higher. Consensus full year pre-tax profits of £71.9m could be exceeded.

Trading Statement

19 Dec 13 Keller Group PLC [KLR]

Trading Statement

PRNW



For immediate release Thursday, 19 December 2013

Keller Group plc

Year End Trading Update

Keller Group plc ("Keller" or "the Group"), the international ground
engineering specialist, is providing the following routine trading update in
advance of its results for the financial year ending 31 December 2013, to be
announced on 3 March 2014.

There has been no significant change in market and trading conditions since the
release of the Interim Management Statement on 19 November 2013. The Board
therefore expects that the full year results will be in line with current
market expectations.

For further information, please contact:

Keller Group plc
Justin Atkinson, Chief Executive 020 7616 7575
James Hind, Finance Director

Finsbury
Gordon Simpson, Rowley Hudson 020 7251 3801

Forward-looking Statements

This document contains forward-looking statements which have been 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.

Note 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 £1.5bn, Keller has
approximately 8,000 staff world-wide.

Keller is the market leader in the US and Australia; it has prime positions in
most established European markets; and a strong profile in many developing
markets.



END

:-))

Questor share tip: Keller completes stellar year
Telegraph
By John Ficenec | Telegraph – Fri, Dec 20, 2013 06:00 GMT


The construction group has enjoyed a strong run on the shares and there could be more to come, says Questor

Keller £11.40+36p Questor says HOLD

CONSTRUCTION group Keller said yesterday that the rebound in the US economy has boosted the company’s earnings.

Shares in the FTSE 250 company gained more than 3pc after it said that net profits would be in line with the forecasts of analysts who collectively have upgraded its earnings outlook by 38pc since the beginning of the year.

The trading update rounds off a strong run for the company, which has seen its shares gain 63pc in value during the year to date, well ahead of the wider FTSE 250, up 26pc over the same period.

The company, which built the foundations for the London Olympic Stadium, generates the majority of its revenue overseas and North American markets which include the US and Canada contribute about half of the group’s earnings.

US sales have continued to improve into this month, building on its stronger performance in North America during the first half of the year, which management had already highlighted in a November trading update. In the US, the company has said that its business is being largely supported by a recovery in commercial building, which has more than offset continued weakness in residential construction and public works.

James Hind, finance director at Keller, said at the time of the November update that improving markets in the US were helping it raise the value of contracts and relieving the pressure on margins.

As the recovery under way in the US construction industry continues, profit margins could increase further. According to analysis from Liberum Capital, Keller’s operating profit margins are still below the mid-cycle average of 6.6pc. The company is expected to improve its operating profit margins to more than 6pc next year, up from 4.4pc reported in the interim results. However, this would still be about half the group’s peak margins of 11.2pc achieved in 2007.

“We are still in the early stages of a construction cycle recovery, giving more room for margins to improve,” Mr Hind added.

Elsewhere, the construction group’s markets are challenging. In Australia, where the group generates around 20pc of revenue, a slump in the mining sector has hit the economy and weakened the market in commercial and infrastructure construction. European markets, where Keller generates another 20pc of its revenue, also remain tough.

Asia and emerging markets present a mixed picture, with continued strong growth in Singapore and Hong Kong offsetting a slowdown in India.

One of the main attractions for investors in Keller is the steady dividend income that the company offers. The company has an unbroken 29-year record of increasing or, at the very least, maintaining the dividend. Keller raised the interim dividend this year by 5pc to 8p per share, having held it during the past two years after profits slumped.

Brokers are now expecting the full-year dividend to increase by 9pc in the current year and next year, to 27p, providing a prospective yield of 2.6pc. The dividend looks relatively safe as it is covered more than three times by earnings and 1.7 times by free cash flow.

Keller’s shares are trading at 15 times current earnings, and, given the anticipated recovery in profits, the price-to-earnings ratio (P/E) falls to 14 times next year, and 12 times full-year 2015 earnings forecasts. Both of these forward P/E ratios are a premium to the long-run average P/E ratio of 10. In this context, a lot of the recovery in the US market is already priced in to the shares. Keller is still exposed to the ongoing slowdown in Australia and profit margins may take longer to recover as competition for work increases. Keller has solid foundations for a recovery but the shares are no better than a hold for now (SES: E2:OJ4.SI - news) .

Keller Group PLC (KLR:LSE) set a new 52-week high during today's trading session when it reached 1,200. Over this period, the share price is up 63.05%

6 Feb Liberum Capital 1,050.00 Hold

Re Contract

PRNW



For immediate release 13 February 2014

Keller Group plc

Major US Contract Award

Keller Group plc ("Keller"), the international ground engineering specialist,
announces that it has been awarded a contract worth $41m (£25m) in connection
with the City of Seattle's Elliott Bay seawall project.

The project involves the repair and replacement of a large section of seawall
along Seattle's downtown waterfront, a popular tourist area. Constructed
between 1911 and 1936, the seawall has deteriorated over time, making it
vulnerable to storm and earthquake damage.

Using our advanced jet grouting technology, we will construct a grid of
approximately 5,500 large diameter soilcrete columns at depths of up to 26
metres, to provide seismic stability and foundation support for the new
seawall. To work around existing timber piles, we will employ a process of
dynamic planning to survey pre-drilled holes, identify obstructions and revise
the grid pattern as the work proceeds.

A test programme is expected to begin this March, following which the work will
be carried out over three years, avoiding the main periods for tourism.

Justin Atkinson, Keller Chief Executive, commented:

"Keller has a long track record of successfully completing very large specialty
grouting projects in difficult environments around the world. At Elliott Bay,
the particular challenges associated with constructing jet grouted columns
around existing timber piles add complexity to this contract, which plays to
our strengths.

"Increasing our participation in large and complex projects remains one of our
key aims and we are delighted to have been selected to work on the Elliott Bay
seawall project."

Keller Group PLC (KLR:LSE) set a new 52-week high during today's trading session when it reached 1,299. Over this period, the share price is up 74.60%.