REG - Keller Group PLC - Update on APAC trading

KellerAnnouncement

11/10/2018 07:05

RNS Number : 7042D
Keller Group PLC
11 October 2018
 


For immediate release                                                                                        11 October 2018
 
 
Keller Group plc ("Keller" or "the Group"):
 
Update on APAC trading
 
 
Keller announces that, as a consequence of deteriorating ASEAN market conditions, notably in Malaysia, and the reassessment of project performance in ASEAN and Waterway as a result of recent changes of the management in those two business units, it is now expected that the APAC division will make a pre-tax loss of between £12m-£15m in the full year to 31 December 2018, in contrast to the previous expectation of a small profit.
 
As a consequence the Group is undertaking a strategic review of the affected business units and will update the market in due course with the outcome of the review.
 
In all other respects, the Group's trading results for the 2018 financial year remain in line with the Board's expectations.
 
 
For further information, please contact:



Keller Group plc






 




Alain Michaelis, Chief Executive Officer
Michael Speakman, Chief Financial Officer
Victoria Huxster, Head of Investor Relations


020 7616 7575


 




Finsbury


 




Gordon Simpson


020 7251 3801



 
 
Notes to Editors:
Keller is the world's largest geotechnical contractor, providing technically advanced geotechnical solutions to the construction industry. With annual revenue of around £2.0bn, Keller has approximately 11,000 staff world-wide.  Keller is the clear market leader in the US, Canada, Australia and South Africa; it has prime positions in most established European markets and a strong profile in many developing markets. 
For more information, please go to:
http://www.keller.com/investors.aspx and http://www.keller.com/investors/investment-case.aspx.
 
LEI:  549300QO4MBL43UHSN10
Classification:  Inside Information (DTR 6 Annex 1)
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. On the publication of this announcement via a Regulatory Information Service ("RIS"), this information is considered to be in the public domain.




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