16th May 2014 10:16
LONDON (Alliance News) - Keller Group PLC Friday said it is trading in line with expectations so far in 2014, despite a decline in public construction expenditure in the US and a lull in activity levels for major project awards in Canada's oil sands market.
Keller said although there has been a decline in public construction expenditure in the US, the market continues to improve, with private expenditure on construction significantly up on 2013. In Canada, demand in the commercial, residential and infrastructure segments "remains steady".
The FTSE 250 engineering contractor said challenging conditions endure in most of its European markets, while competition in the Middle East remains "intense". In Australia, Keller said it is seeing some early signs of improving activity levels in the infrastructure and commercial segments.
Overall, the company said year-to-date contract awards were up on the corresponding period, while the value of its like-for-like order book at the end of April, for work to be executed over the next 12 months, is around 10% ahead of the same time last year.
The company will publish its half-year results on August 4.
Keller shares were quoted down 2.1% at 924.69 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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