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Keller Group PLC announced on Thursday it is on track to deliver a full-year performance for 2022 in line with expectations, while it also declared an increase in annual dividend.
The London-based geotechnical specialist contractor said trading since its half-year results had continued at record levels despite a challenging macro environment, predicting its expectations would be aided by a foreign exchange tailwind.
It declared a final 2022 dividend of 24.5 pence, up 5.2% from 23.3 pence a year ago, bringing the total dividend to 37.7 pence from 35.9 pence.
Keller also said it expects its year-end net debt/earnings before interest, taxes, depreciation and amortisation leverage to be 1.3 times, within its target range of 0.5 times to 1.5 times.
"The momentum we achieved in the first half has continued and we are also now benefiting from the actions we have taken to improve performance in our North American foundations business," said Chief Executive Officer Michael Speakman.
Speakman added that Keller's order book remains at a high level, providing short and medium-term confidence in its operations.
Shares in Keller Group PLC increased by 1.6% in London on Thursday morning.
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