Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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 £62.1 million in 2021, up 51% from £41.1 million in 2020.
Revenue rose 7.8% to £2.22 billion from £2.06 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 £1.3 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.’
Copyright 2022 Alliance News Limited. All Rights Reserved.