Business
Trading update
Trading update.
About this update from Keller Group Plc
[{"type":"text","content":"\n \nRNS Number : 6443W Keller Group PLC 16 November 2017 \n\nFor immediate release 16 November 2017\n \nKeller Group plc\nTrading update\n \nKeller Group plc (\"Keller\" or \"the group\"), the world's largest geotechnical contractor, issues the following trading update.\n \nFor the group as a whole, both revenue and profit in the four months since the half year are ahead of the same period last year. Tendering activity and contract awards remain healthy and the order book, of work to be undertaken in the next 12 months, is around 10% higher than at the same time last year.\n \nThe group remains on course to meet the Board's expectations for the full year, with good year-on-year growth in both revenue and operating profit.\n \nThere have been no major changes in our markets since we reported the group's 2017 interim results on 31 July.\n \nIn North America, the US construction market as a whole remains solid but with continuing regional and sectoral variations. Hurricanes Harvey and Irma resulted in lost production on some sites in Florida and Texas for periods of up to two weeks in the third quarter. Whilst this had an estimated negative one-off profit impact of £3m, we expect the heightened focus on hurricane and flood defences to lead to increased investment over time. Operating profit in North America will decline in 2017 as a result of previously noted weakness in specific regional markets, as well as the one-off effect of the hurricanes. Looking ahead, bidding activity remains healthy and the order book is around 10% above the level at the same time last year. The group is expected to benefit from the proposed US corporate tax changes, if enacted, as well as in the medium term from...