Further exceptional charge of up to 拢30m made as dispute reaches settlement
Ground engineering giant Keller is to make a second exceptional charge of up to 拢30m in relation to a legal dispute.
Keller said last July it would make a 拢30m exceptional charge relating to a dispute believed to concern near Bristol, where UK subsidiary Keller Ltd was blamed for cracks in the floor.
In an update to investors this afternoon, the firm said it will now take a further exceptional charge of between 拢20-30m, having now reached agreement to settle the dispute.
The final cost would depend on the amount of remedial work required but is, 鈥渘ot expected to exceed 拢60m, before taking account of any yet to be agreed insurance recoveries鈥�, a Keller statement said. The full terms of the settlement agreement are confidential.
Keller, the world鈥檚 largest independent ground engineering specialist, will announce its full year results on 2 March.
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