Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKeller Share News (KLR)

Share Price Information for Keller (KLR)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,290.00
Bid: 1,278.00
Ask: 1,288.00
Change: -30.00 (-2.27%)
Spread: 10.00 (0.782%)
Open: 1,328.00
High: 1,328.00
Low: 1,278.00
Prev. Close: 1,320.00
KLR Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Keller hails stronger performance in Asia-Pacific as profits jump

Tue, 03rd Mar 2020 08:17

(Sharecast News) - A return to profitability at Keller's Asia-Pacific business helped bolster group profits, the geotechnical services contractor confirmed on Tuesday.

Keller, which works on construction projects around the world preparing the ground and laying foundations, among other services, said underlying profits improved 2% to £101.8m on a constant currency basis in the year to 31 December. Statutory pre-tax profits surged to £51.6m from £8.4m. The improvement was largely driven by the return to profit in Asia-Pacific, which had been rocked by challenging market conditions.

Revenues rose 2%, also on a constant currency basis, to £2.3bn. The company said that growth in North America and in Europe, the Middle and Africa, alongside favourable currency rates, had been offset by a planned reduction of activity in Asia-Pacific.

Revenue from APAC declined 27%, to £287m. North America reported 15% growth to £1.33bn, however, while EMEA nudged ahead 2% to £679.6m.

Keller's home UK market accounts for just 3% of its business.

Michael Speakman, chief executive, said: "2019 was a significant year of decisive progress for Keller. The return to profit in APAC and the group's strong cashflow generation underpinned the improved financial performance, which was in line with expectations. Our more focused strategy will ensure that Keller evolves in the future to become a more efficient higher-quality business."

Looking forward, the company said the current year had "started well" with the order book now in excess of £1bn.

However, Speakman also sounded a note of caution. "While we are cautiously optimistic and expect another year of continued progress, supported by our robust order book, we remain cognisant of challenging macroeconomic conditions and the potential indirect impact of Covid-19."

Peel Hunt, which has a 'buy' recommendation on Keller, said: "After a testing first-half, which saw profits down materially, the group bounced back well in the second half and especially the first quarter.

"Divisionally, the star performer was APAC, which returned to profit for the whole year and not just the second half. EMEA was materially lower, as expected due to the completion of two major projects in 2018.

"Covid-19 clearly presents a risk but the group's direct supply chain is more domestic in its nature."

Shares in Keller were ahead 7% at 765p by 1430 GMT.
More News
12 Aug 2021 16:04

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
3 Aug 2021 12:15

Keller lifts full-year outlook after better than expected first half

Keller lifts full-year outlook after better than expected first half

Read more
3 Aug 2021 10:59

SMALL-CAP WINNERS & LOSERS: Keller shares rally 9% as outlook raised

SMALL-CAP WINNERS & LOSERS: Keller shares rally 9% as outlook raised

Read more
3 Aug 2021 09:32

BROKER RATINGS: Berenberg raises Rightmove to Hold from Sell

BROKER RATINGS: Berenberg raises Rightmove to Hold from Sell

Read more
27 Jul 2021 15:58

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
14 Jul 2021 10:28

Keller buys US geotechnical services provider Recon for up to $38m

(Sharecast News) - Keller said on Wednesday that it has bought Recon Services, a Texas-based geo-technical services provider, for up to $38m (£27.4m).

Read more
14 Jul 2021 09:55

Keller buys geotechnical firm Recon Services for up to USD38 million

Keller buys geotechnical firm Recon Services for up to USD38 million

Read more
27 May 2021 16:05

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
19 May 2021 13:10

IN BRIEF: Keller retains full-year outlook as markets start to firm

IN BRIEF: Keller retains full-year outlook as markets start to firm

Read more
19 May 2021 11:52

Keller on track as global markets start to pick up

(Sharecast News) - Keller Group left its full-year forecasts unchanged on Wednesday, after forex headwinds and adverse weather were offset by improving market conditions.

Read more
18 May 2021 15:48

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
12 May 2021 16:04

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
14 Apr 2021 12:33

Keller JV secures £95m HS2 contract

(Sharecast News) - Keller said on Wednesday that its 50:50 joint venture with Bauer Technologies has been awarded a £95m contract to deliver geotechnical work as part of the C23 package on HS2 in the UK.

Read more
14 Apr 2021 09:53

Keller wins GBP95 million HS2 contract alongside Bauer Technologies

Keller wins GBP95 million HS2 contract alongside Bauer Technologies

Read more
9 Mar 2021 13:05

Tuesday broker round-up

(Sharecast News) - Aston Martin: HSBC upgrades to buy with a target price of 2,750p.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.