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Keller upgrades outlook on strong performance in North America
StockMarketWire.com
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Geotechnical specialist contractor group Keller upgraded its outlook on full-year outlook following better than expected trading in the second half to date, specifically in North America.
The group said it expects to outperform current market expectations for 2020, with full year performance now anticipated to be at similar levels to 2019.
'Whilst the group's Q2 performance was adversely impacted by a period of restricted access to sites as a result of COVID-19, this has not been repeated in the second half,' it added.
The order book overall provided a good revenue coverage through to the end of the year, though the company reiterated that it continued to see a softening in order intake as well as deferrals of projects already in the order book, which would impact 2021.
'The impact of the pandemic is now more notably evident in logistical challenges and a softening level of order intake, albeit the order book remains robust,' Keller said.
The company declared an unchanged interim dividend of 12.6p per share.
At 9:49am: (LON:KLR) Keller Group PLC share price was 0p at 591p
Story provided by StockMarketWire.com
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