30th Jul 2014 13:48
LONDON (Alliance News) - Keller Group PLC said it will make a GBP30 million exceptional charge in its half-year results for 2014 relating to a dispute on a project at its UK subsidiary Keller Ltd.
The dispute relates to purported defects in a floor slab at a warehouse, for which Keller Ltd undertook the design and construction of the piling.
Keller denies the claims against Keller Ltd, which are currently in litigation, and said they are being "vigorously defended." However, because of the "uncertainties inherent in any litigation" it is appropriate to record an exceptional charge.
The company will announce its half-year results next Monday.
Shares in Keller were trading down 0.6% at 908.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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