Keller Group builds record profits despite inflationary headwinds
Keller Group have reported record earnings for the first six months of trading this year, despite inflationary pressures and supply chain disruptions.
The construction specialist revealed first-half underlying operating profits of £49.6m – up 19 per cent – driven by growth and active management of materials and labour availability in challenging economic headwinds.
This comes alongside revenue of £1,34bn – a 31 per cent increase on a constant currency basis – as trading activity recovered following the impacts of COVID-19
The company has also reported a record order book of £1.6bn at the end of June, underpinning future performance
This follows a number of recent contract awards and prospects in the energy and infrastructure sectors, including increased LNG activity where Keller has both a well-established presence and an excellent reputation
Meanwhile, interim dividend increased by five per cent to 13.2p, continuing the dividend policy of long-term progression, and building on the group’s uninterrupted record of maintaining or increasing the dividend since flotation in 1994.
The board is also reviewing a further increase to the final dividend
Chief executive Michael Speakman said:. We remain very confident in the Group’s strategy and long-term prospects, which is reflected in the Board’s decision to recommence the progressive dividend policy with a 5% increase in the interim dividend for the first half of 2022.”