Business
Annual General Meeting and trading update
Annual General Meeting and trading update.
About this update from Keller Group Plc
[{"type":"text","content":"\n \nRNS Number : 7929E Keller Group PLC 11 May 2017 \n\nFor immediate release Thursday 11 May, 2017\nKeller Group plc\n \nAnnual General Meeting and trading update\n \nKeller Group plc (\"Keller\" or \"the Group\"), the world's largest geotechnical contractor, issues a trading update ahead of its Annual General Meeting to be held at 11.00am today.\nTrading\nThere has been no significant change in market trends since we reported the Group's 2016 results on 27 February. For the Group as a whole, both revenue and profit in the four months to the end of April are ahead of last year. \nOur North American division has had a solid start to the year, albeit behind the very strong first four months in 2016. EMEA has continued its growth trend of recent years, helped by ongoing good contract execution on large projects. APAC's results show a significant year on year improvement with encouraging growth in revenue although, as expected, the division still recorded a loss in the period. \nTendering activity and contract awards remain generally healthy. The order book has increased during the year and, at the end of April, the Group order book of work to be undertaken over the next 12 months was 15% higher than at the same time last year.\nAs a result, the Group remains on course to meet the Board's expectations for the full year.\nFinancial Position\nKeller announced a property disposal today for a cash consideration of £62m, which reduces the Group's net debt to EBITDA ratio by 0.3x. Apart from this, there has been no material change in the financial position of the Group since the announcement on 27 February 2017 of the results for the year ended 31 December 2016. \nKeller will announce its interim results on 1 August 2017.\n \nFor further information, please contact:\n \n\n\n\n\nKeller Group plc\n\n\nwww.keller.com \n\n\n \n\n\n\n\nJames Hind, Finance Director\n\n\n020 7616 757...