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Keller Group PLC said it is on track for annual results in line with the market view, as it hailed an ‘improved operational performance’ in the face of tough trading conditions. The London-based geotechnical specialist contractor expects to report 2025 underlying operating profit in line with analysts consensus of £214 million, with its ‘more typical modest weighting towards the second half’. Underlying operating profit in 2024 totalled £212.6 million, so it expects growth of around 0.7%. Keller shares rose 4.7% to 1,556.00 pence each in London on Thursday morning. ‘Whilst the volatile macroeconomic background is affecting demand in a number of regions and there are translational FX headwinds, the group continues to combine improved operational performance with a good level of new project wins in our more resilient markets. This overall sustained performance of the group together with our strong order book, maintained at record levels, and healthy tendering pipeline underpins our confidence in the trading outlook for the short and medium term, whilst mindful of further FX headwinds,’ Keller said. Over in North America, Keller’s Foundations business ‘has performed well’. A normalisation in pricing has occurred, as expected, but ‘operational improvements’ registered in recent years have been sustained. However, Keller is yet to see ‘any signs of broad based macroeconomic recovery’ in Europe. Middle East trading ‘remains resilient’. ‘In the Asia-Pacific division, performance continued to be robust, driven principally by Austral and India. The foundations business in Australia benefitted from project close out settlements that offset generally softer market conditions,’ Keller added. Keller announces annual results on March 3. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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