The chief executive of groundworks specialist Keller, has said government stimulus packages will only begin to benefit construction firms 鈥渨ell into 2010鈥�

Speaking after the group broke the 拢1bn-turnover barrier for 2008, Justin Atkinson said a lot rested on the speed and effectiveness of government measures but he did not expect any benefit in 2009.

Pre-tax profit at Keller was up 10%, from 拢103m to 拢113m. Turnover hit 拢1.19bn, up 25% on last year. The operating margin fell from 11.2% to 10%.

Its US arm contributed 拢532.1m to turnover, and 拢442.2m came from Europe, the Middle East and Asia, 拢137.1m from Australia and 拢85.2m from the UK.

Keller ended 2008 with net debt of 拢84.6m but said it was well within its banking covenants.