Ground engineering giant posts solid half-year results
Keller鈥檚 newly-installed chief executive Alain Michaelis has said he wants to create 鈥渁 more joined up company鈥�, after the firm posted solid results for the first half of 2015.
Speaking to 黑洞社区, Michaelis said he wanted to transform the ground engineering giant to enable it to 鈥渁ct with scale, share expertise and act together on purchasing鈥�.
The firm posted a six-fold increase in pre-tax profit to 拢31.6m, up from 拢4.9m the previous year, while revenue declined 4% to 拢755.8m, down from 拢788.2m.
The firm made no further exceptional charges in this set of results for a contract dispute regarding allegedly defective construction of a wine warehouse in Bristol, with the charges accounted for in its 2014 full-year results.
Keller said it had had a 鈥渟low start to the year鈥�, which it attributed to harsh weather conditions in the US and delays on a number of major projects.
The group said currency fluctuations affected revenue in the EMEA region and most European construction showed 鈥渇ew signs of any market recovery and competition remains intense鈥�.
Revenue for the UK was down on last year following completed major works on Crossrail and Victoria station, but the group said it had recently been awarded some 鈥渟trong鈥� contracts that will improve the second half of the year.
The group also announced two acquisitions 鈥� Austral in Australia and Bencor in the US - worth a total of 拢46m.
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