Business
Interim Results for the half year ended 30 June 23
Interim Results for the half year ended 30 June 23.
About this update from Keller Group Plc
[{"type":"text","content":"\n\n \n\n \n1 August 2023\n \nKeller Group plc\n \nInterim Results for the half year ended 30 June 2023\n \nKeller Group plc ('Keller' or the 'Group'), the world's largest geotechnical specialist contractor, announces its results for the half year ended 30 June 2023.\n \nRecord H1 performance; positive H2 outlook; dividend increased\n \n\n\n\n\n\n\nH1 2023\n£m\n\n\nH1 20221\n£m\n\n\n \n \n% change\n\n\nConstant currency\n% change\n\n\n\n\nRevenue\n\n\n1,466.3\n\n\n1,333.4\n\n\n+10%\n\n\n+6%\n\n\n\n\nUnderlying operating profit2\n\n\n67.0\n\n\n42.3\n\n\n+58%\n\n\n+50%\n\n\n\n\nUnderlying operating profit margin2\n\n\n4.6%\n\n\n3.2%\n\n\n+140bps\n\n\nn/a\n\n\n\n\nUnderlying diluted earnings per share2\n\n\n56.0p\n\n\n37.9p\n\n\n+48%\n\n\n\n\n\n\n\nFree cashflow before interest and tax\n\n\n40.8\n\n\n(41.6)\n\n\n\n\n\n\n\n\n\n\nNet debt (bank covenant IAS 17 basis)3\n\n\n244.6\n\n\n194.0\n\n\n+26%\n\n\n\n\n\n\n\nDividend per share\n\n\n13.9p\n\n\n13.2p\n\n\n+5%\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\nStatutory operating profit\n\n\n56.6\n\n\n30.4\n\n\n+86%\n\n\n\n\n\n\n\nStatutory profit before tax\n\n\n43.1\n\n\n25.4\n\n\n+70%\n\n\n\n\n\n\n\nNet cash inflow/(outflow) from operating activities\n\n\n35.3\n\n\n(12.7)\n\n\n\n\n\n\n\n\n\n\nStatutory diluted earnings per share\n\n\n45.0p\n\n\n24.9p\n\n\n+81%\n\n\n\n\n\n\n\nStatutory net debt (IFRS 16 basis)\n\n\n331.6\n\n\n277.7\n\n\n+19%\n\n\n\n\n\n\n1 Restated for prior period accounting error arising from the financial reporting fraud at Austral as detailed in note 3 to the interim condensed consolidated financial statements.\n2 Underlying operating profit and underlying diluted earnings per share are non-statutory measures which provide readers of this Announcement with a balanced and comparable view of the Group's performance by excluding the impact of non-underlying items, as disclosed in note 8 to the interim condensed consolidated financial statements.\n3 Net debt is presented on a lender covenant basis excluding the impact of IFRS 16 as disclosed within the adjusted performance measures in the interim condensed consolidated financial statements.\n \nHighlights\n· Record first half performance in revenue and underlying profit\n· Revenue of £1,466.3m, up 6% (at c...