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Geotechnical specialist contractor group Keller upgraded its outlook on performance after reporting a jump in profit in the first half of the year.
'The group's performance for the full year is now anticipated to be materially ahead of the Board's previous expectations, with a modest second half bias,' the company said.
For the half year ended 27 June 2021, pre-tax profit rose 57% to £29.2 million year-on-year, while revenue fell 5% to £984.1 million.
The order book at the end of June was up 11% to £1.2 billion on the prior half year period and on a constant currency basis.
The dividend was maintained at 12.6 pence per share.
'The positive resolution of a historical claim in North America was more than offset by the anticipated impact of COVID-19, higher steel prices in the Suncoast business and unrecognised revenue on suspended contracts in Africa, predominantly a liquefied natural gas (LNG) contract in Mozambique,' the company said.