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Keller profits up 19pc

Keller’s pre-tax profit from continuing operations for the first six months of 2008 was up 19 per cent to £54.2 million partly due to business growth in the Middle East, Eastern Europe and Australia.

The ground engineering specialist company said its revenue increased 28 per cent to £568.7 million on the same period in 2007 as a result of excellent organic growth everywhere but in the US.

Keller, which is carrying out the foundations work on the main stadium for the 2012 Olympics, described the UK markets as resilient in the first six-months with the exception of the housing sector.

The UK division reported increased operating profit of 29 per cent to £2.2 million for the first six-months of 2008 with revenue up 27 per cent to £44.8 million.

Keller said it expected some tightening in certain Western Europe markets but continued momentum in high growth markets.

Chief executive Justin Atkinson said: “We go into the second half of 2008 with a strong order book and the board anticipates that the Group’s results for the year as a whole will be broadly in line with last year’s excellent performance.”