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Ground engineering giant Keller has sold a problem wine warehouse it bought a year ago for 拢62m.

The warehouse in Avonmouth near Bristol - which was completed in 2008 but became the subject of disputes over allegations of defective work causing cracks to the floor slab - was bought by Keller last May after the disputes were settled the previous year.

Keller had made a 拢54m writedown related to the property - so the firm said it had made an 拢8m exceptional profit through the 拢62m sale, which will boost its 2017 results. Keller said it had also made 拢4m of rental income from the warehouse over the year.

In a seperate trading update ahead of its annual general meeting, the firm said revenue and profit were both up on the first four months of last year, with the company trading in line with expectations.

Commenting on divisional performance, the firm said: 鈥淥ur North American division has had a solid start to the year, albeit behind the very strong first four months in 2016.

鈥淓MEA has continued its growth trend of recent years, helped by ongoing good contract execution on large projects.

鈥淎PAC鈥檚 results show a significant year on year improvement with encouraging growth in revenue although, as expected, the division still recorded a loss in the period鈥�.

The firm鈥檚 chief executive Alain Michaelis .

Michaelis, the former Rolls Royce group operations director who took over from previous boss Justin Atkinson last May, said the firm forecast its North American business would be able to take advantage of Trump鈥檚 building push from 2018-19 when it expects projects to come on to site.

鈥淲e are three times bigger in the US than the market players in that space, so we鈥檙e well placed,鈥� he added.

In its results for 2016, the firm posted pre-tax profit of 拢73.9m on revenue of 拢1.78bn, up from 拢56.3m and 拢1.56bn respectively the previous year.