The Keller Board is declaring an interim dividend of 18.3p, with the intention of returning to a more normal progressive 5% dividend policy for the 2025 financial year. The Group will revert to the normal balance of the full-year dividend payable 35% as an interim and 65% as the final dividend. The interim dividend is payable on 12 September 2025 to shareholders on the register as at 15 August 2025.
Other financial highlights include:
A good first half performance ahead of market expectations, evidencing the sustained improvement in business performance.
Performance relative to the strong prior year period reflected the expected normalisation of market conditions in North America, particularly pricing at Suncoast, alongside profitable growth in the Europe and Middle East (EME) and Asia-Pacific (APAC) Divisions.
Underlying operating margin remains strong at 7% (historic five-year H1 average: 4.8%).
Net debt of £61.5m, up £32m since Dec 2024; driven by £25m share buyback and increased working capital investment. Net debt/EBITDA leverage ratio of 0.2x (H1 2024: 0.3x; FY 2024: 0.1x).
Successful completion of an initial £25m tranche of the multi-year share buyback programme in H1. Keller announces its intention to launch an additional tranche of £25m in H2.
Underlying ROCE at 26.7% (H1 2024: 28.4%).
Strong order book sustained at previous record level of £1.6bn.
Accident Frequency Rate reduced to 0.04 with five lost time injuries (H1 2024: 0.08; eight lost time injuries).
The Board's expectations for full year 2025 maintained, despite the anticipated FX headwind, underpinned by the strong order book.
James Wroath joins as Chief Executive Officer on 18 August 2025.
