Ground engineer's results boosted by international expansion
Ground engineering specialist Keller Group has increased pre-tax profit by 19% to 拢54.2m in the six months ended 30 June 2008.
Its figures, which saw turnover grow 28% from 拢443.9m to 拢568.7m, were boosted by its push into new parts of the world.
Chief executive Justin Atkinson said: 鈥淭he trend of increased geographic diversification has continued, particularly in the Middle East, Eastern Europe and Australia.鈥�
As a result of the drive, more than 60% of profit comes from outside the US compared to 30% three years ago.
Its turnover split was as follows:
- UK - 拢44.8m (拢35.4m)
- US - 拢245.5m (2007: 拢232.7m)
- Europe, Middle East and Asia - 拢204.4m (136.2m)
- Australia - 拢74m (拢39.6m)
It said the UK markets had remained resilient except for the housing sector, which accounts for about 30% of its turnover. 鈥淲e do not foresee an improvement in the short term,鈥� the company said.
Its US housing business Suncoast also suffered 鈥渇urther pressure on its margins鈥� although stayed in the black over the period.
Keller said full-year results would be 鈥渂roadly in line鈥� with last year鈥檚 figures despite the fact some markets would tighten and the prospects for the commercial sector in the US remains unclear.
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