Business
Preliminary Results for the year ended 31 Dec 2023
Preliminary Results for the year ended 31 Dec 2023.
About this update from Keller Group Plc
[{"type":"text","content":"\n\n\n \n5 March 2024\n \nKeller Group plc audited Preliminary Results for the year ended 31 December 2023\n \nKeller Group plc ('Keller' or 'the Group'), the world's largest geotechnical specialist contractor, announces its results for the year ended 31 December 2023.\n \nRecord results provide a new foundation for long term growth\n \n\n\n\n\n\n\n\n2023\n£m\n\n\n2022\n£m\n\n\n% change\n \n\n\nConstant currency\n% change\n \n\n\n\n\nRevenue\n\n\n2,966.0\n\n\n2,944.6\n\n\n+1%\n\n\n+1%\n\n\n\n\nUnderlying operating profit1\n\n\n180.9\n\n\n108.6\n\n\n+67%\n\n\n+67%\n\n\n\n\nUnderlying operating profit margin1\n\n\n6.1%\n\n\n3.7%\n\n\n+240bps\n\n\n\n\n\n\n\nUnderlying profit before tax1\n\n\n153.4\n\n\n93.5\n\n\n+64%\n\n\n\n\n\n\n\nUnderlying diluted earnings per share1\n\n\n153.9p\n\n\n100.7p\n\n\n+53%\n\n\n\n\n\n\n\nFree cash flow\n\n\n103.2\n\n\n(33.8)\n\n\n+405%\n\n\n\n\n\n\n\nNet debt (bank covenant IAS 17 basis) 2\n\n\n146.2\n\n\n218.8\n\n\n-33%\n\n\n\n\n\n\n\nTotal dividends for the year per share\n\n\n45.2p\n\n\n37.7p\n\n\n+20%\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\n153.1\n\n\n67.8\n\n\n126%\n\n\n\n\n\n\n\nStatutory profit before tax\n\n\n125.6\n\n\n56.3\n\n\n123%\n\n\n\n\n\n\n\nStatutory diluted earnings per share\n\n\n120.5p\n\n\n62.4p\n\n\n93%\n\n\n\n\n\n\n\nNet cash inflow from operating activities\n\n\n197.0\n\n\n54.8\n\n\n259%\n\n\n\n\n\n\n\nStatutory net debt (IFRS 16 basis)\n\n\n237.3\n\n\n298.9\n\n\n-21%\n\n\n\n\n\n\n\n1 Underlying operating profit, underlying profit before tax 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 9 of the consolidated financial statements\n2 Net debt is presented on a lender covenant basis excluding the impact of IFRS 16 as disclosed within the adjusted performance measures in the consolidated financial statements\n \nHighlights\n \n· Record performance with significant progress made in key measures of financial performance:-\n· Revenue of £2,966.0m, similar to prior year\n· Underlying operating profit c.80...