By Mauro Orru
Keller Group said Wednesday that trading in the first four months of the year was strong and better than expected in terms of profit and cash.
The London-listed geotechnical specialist contractor said it continues to expect a full-year performance at least in line with the board’s expectations thanks to a strong order book, recent contract wins and increased momentum across the business.
“At the half year, given the timing of payments relating to tax, dividends and interest, we expect the net debt/Ebitda leverage ratio to be at the upper end of the 0.5x – 1.5x range, while at the year end we now expect the leverage ratio to be lower than prior year,” the group said.
The company said its North American division was recently awarded a contract worth approximately $145 million for an assembly plant in South Carolina that will build Scout electric vehicles.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
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