LONDON (ShareCast) - - FY results to surpass top end of expectations
- Order book ahead of prior year

Keller Group, the FTSE 250 ground engineering specialist, reported a continued improvement in trading during the four months to the end of October and said its full year results were expected to be slightly above the top end of current market expectations.

The company said that the value of the like-for-like order book at October 31st, for work to be executed over the next 12 months, was slightly above that time last year, while revenue was broadly flat after adjusting for the effect of acquisitions.

"However, the efficiencies driven by our ongoing business improvement initiatives, combined with very strong final results on some completed major projects, have generated better-than-expected margin improvement," the group revealed.

Looking further ahead, Keller added: "We remain optimistic about the long-term prospects for our sector and our business. Recent acquisitions have increased the group's presence in higher-growth regions and we feel that our business is in good shape to take full advantage of future opportunities."

Divisionally, in North America the company experienced a strong first half, and said the recently acquired North American Piling, rebranded as Keller Foundations Canada, was performing in line with its expectations.

In Europe, the Middle East & Africa (EMEA), conditions remained mixed, with signs of recovery still "somewhat fragile". However, overall revenue for EMEA is expected to be ahead of last year with a "much improved" full-year operating margin.

Little change has been seen in conditions in Asia, with revenue in the last four months lagging behind the corresponding period last year. However, operating profit for the full year is expected to be close to last year's level, the group said.

NR

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE