Keller increases its 2015 interim dividend by 5%

DividendMax Ltd.

Keller increases its 2015 interim dividend by 5%

Highlights

Operating profit up 6%, despite lower revenue

First half operating margin up 0.5% to 5.0% driven by improvements in North America and EMEA, the Group's two largest divisions

Revenue down 4%, reflecting a lower contribution from major projects

Order book up 5% on same period last year, positioning the Group well for the second half

Two acquisitions announced in the period, in the US and Australia, for a total initial consideration of circa £45m, further expanding the Group's product offerings

 Group remains conservatively financed, with net debt of £171.5m (1.2x annualised EBITDA)

 Interim dividend up 5% to 8.8p per share

"While conditions remain challenging in many of the markets in which we operate, the recovery in US construction, the Group's largest market, remains robust and broad-based. This, together with the benefits from improvements that the Group has implemented, means that the Board remains confident that the Group's results for the year will be in line with current market expectations".

Companies mentioned