Keller Group increases its 2016 full year dividend by 5%

DividendMax Ltd.

Keller Group increases its 2016 full year dividend by 5%

2016 summary:

 Record revenue of £1,780m (2015: £1,562m), mainly due to currency movements and strong growth in EMEA

Underlying profit before tax down 11% due to £18m loss in APAC division largely as a result of continuing very difficult market conditions in Australia and Singapore. Significant restructuring undertaken; APAC cost base reduced by an annualised £12m

Strong margin in North America and excellent growth in EMEA

Exceptional restructuring charge of £14.3m offset by exceptional credit due to Avonmouth insurance proceeds received and valuation uplift

Statutory operating profit up 32% to £85.2m (2015: £64.7m, stated after exceptional goodwill impairment of £31.2m)

Net debt increased to £306m (2015: £183m), in large part due to currency differences and £62m purchase of the Avonmouth property

Continuing to make good progress against the Group's medium term strategic objectives

Year-end order book at all-time high, 20% above last year, with some major contract wins in the second half of 2016

Total dividend per share of 28.5p (2015: 27.1p), an increase of 5%

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