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(Alliance News) - Keller Group PLC on Tuesday said it expects growth after performing in line with forecasts in the first ten months of 2019.
the stock was trading 5.6% higher in London in morning trade at 589.00 pence a share.
The geotechnical specialist said it expects overall performance for 2019 to be in line with market expectations, with North America experiencing an increased momentum in the fourth quarter.
Keller said the re-organisation of its North American foundations business - which will position the company to better win and execute work in the US - is on track with the new structure becoming effective from the start of 2020.
In the Europe, Middle East, and Africa, meanwhile, trading has been mixed, Keller said. There has been good progress in its continental European businesses, the company noted, but challenging market conditions have continued outside of Europe.
Turning to Asia Pacific, Keller said its expectation of a return to profitability in the second half remains on track.
Looking ahead, Keller said its order book continues to be robust, and it remains focussed on positioning the business to take "full advantage" of urbanisation and infrastructure growth in its key markets.
"Whilst current construction work in our key markets remains robust, we remain cognisant of increasing global macroeconomic uncertainty as we look ahead. In the medium term, Keller remains strategically well positioned with ongoing favourable market fundamentals expected to support profitable growth," the company said in its statement Tuesday.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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