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Fri October 23 2020

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Keller profit falls 34%

2 Mar 10 Keller has been hit by a 34% drop in pre-tax profit, from £113.2m to £74.7m, in its results for the year ending 31 December 2009.       

Keller has been hit by a 34% drop in profit, from £113.2m to £74.7m, in its results for the year ending 31 December 2009.

The ground engineering specialist also suffered a 13% drop in turnover to £1.04, down from £1.20bn the prior year.

Keller chief executive Justin Atkinson said: “The group’s 2009 results held up well, given that most of our markets were severely depressed throughout the year.

“Despite a general shortage of contract awards, resulting in intense competition and tighter pricing, good overall contract performance and our firm cost control mitigated the impact on the group’s operating margin.”

He added: “The group is in a very sound financial position, which we will safeguard through our constant focus on cash generation and costs. From this position of strength, we expect to continue to grow in those markets which offer good opportunities.

“In more mature markets, the actions taken to protect our profitability mean that we will emerge from the downturn even stronger and ready to seize the advantage, as these regions recover.”
 

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