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Keller Group Warns On H1 Results; Continues To Expect Good Progress In FY19

Geotechnical specialist contractor Keller Group plc (KLR.L) reported Thursday that its overall trading performance in the first four months of 2019 has been lower than anticipated, but is on an improving trend. The company sees results for the first half of 2019 to be materially lower compared to last year.

In its trading update ahead of its Annual General Meeting, the company said its expectations for the full year remain unchanged, supported by generally stable market conditions.

The company said that it has experienced modest trading for the year to date and continues to expect profits to have a second half bias.

Order book remains around 1 billion pounds, slightly lower than at the same point last year, reflecting the previously announced restructuring in APAC.

The order book grew in each of North America and EMEA..

Keller continues to expect a much stronger second half, and for full year revenue to be broadly flat on 2018, with an improvement in margin driving a recovery in profit.

Overall, Keller continues to expect to make good progress in 2019.

the company will announce its interim results for the six months ending June 30 on July 29.

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