23rd May 2018 11:27
LONDON (Alliance News) - Keller Group PLC said Wednesday it remains confident in meeting 2018 expectations and its order book currently stands over GBP1 billion.
The geotechnical solutions provider said it had a positive start of the year with like-for-like revenue growth and "modest" profit growth in the first four months of 2018. It also said it continues to make progress towards its GBP50 million gross benefits target.
The company said, excluding the Caspian project which has been completed, its order book increased 4% year-on-year.
Trading in North America recovered in the past two months after suffering from the bad weather experiences at the beginning of the year.
In Asia-Pacific the company experienced "encouraging" revenue growth.
"Although pricing remains challenging in certain market segments, we continue to expect that APAC [Asia-Pacific] will return to profitability in 2018," the company said.
In Europe, the Middle East and Africa, "core" European businesses are performing in line with the company's views. The Middle East, however, slowed down after two projects' completion.
"The Middle East is having a quieter year following the completion of its two major projects and the Brazilian market remains challenging," the company added.
Keller shares were trading up 0.4% at 1,070.00 pence.
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