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(Alliance News) - Keller Group PLC on Tuesday reported a resilient annual performance with a rise in revenue lifting profit, while 2022 is looking to be a year of growth.
Keller shares were up 2.2% to 721.52 pence each in London on Tuesday morning.
The London-based geotechnical contractor posted pretax profit of GBP62.1 million in 2021, up 51% from GBP41.1 million in 2020.
Revenue rose 7.8% to GBP2.22 billion from GBP2.06 billion.
Keller said that the year developed largely as it had anticipated. Although inflationary impacts were larger than expected, Keller said, the company still managed a financial performance for the year that was ahead of market expectations.
"Keller proved its resilience in 2021, overcoming the many challenges posed by Covid-19 whilst further rationalising the business portfolio, completing a number of bolt-on acquisitions, delivering another strong set of results which are ahead of market expectations, and maintaining the dividend," said Chief Executive Michael Speakman.
Keller declared a final dividend of 23.3 pence per share, leaving the total payout for the year unchanged from 2020 at 35.9 pence.
Looking ahead, Speakman said: "Our expectations for 2022 are unchanged. Our GBP1.3 billion record order book gives us good visibility in the near term. In addition, our strong balance sheet, a gradually improving market environment together with the positive momentum in the business, gives us confidence that 2022 will be a year of growth, with our usual second half bias."
By Greg Roxburgh; gregroxburgh@alliancenews.com
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