Keller increases its 2017 full year dividend by 20%

DividendMax Ltd.

Keller increases its 2017 full year dividend by 20%

Keller 2017 final results

·      Record revenue of £2,070.6m, up 16%, driven by strong organic growth

·      Underlying profit before tax up 16% to £98.7m

·      Divisional performance

·   EMEA: very strong profit growth (over 70% up to £53.3m) with excellent execution of large contracts

·   North America: underlying profit decline of 14% to £78.7m, reflecting some ongoing regional softness and the negative impact of the hurricanes in the third quarter

·   APAC: £16.5m operating loss, reduced slightly year on year, with progress held back by two contract losses

·      Net debt decreased to £229.5m (2016: £305.6m), representing 1.3x EBITDA

·      Year-end order book, excluding the Caspian project, up 5% giving confidence for 2018

·      Good progress against target of £50m gross benefits from strategic initiatives - one third achieved in first of four years

·      Underlying earnings per share increased 35% to 102.2p, in part due to a one-off tax credit of £9.7m

·    Total dividend per share of 34.2p, up 20%, reflecting confidence in the group's prospects and higher expected future earnings following the recent US tax reforms


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