The Keller Board has announced a 5% increase in the interim dividend to 13.9p (2022: 13.2p) payable on 8 September 2023 to shareholders on the register as at 18 August 2023.
Other financial highlights include:
Record first half performance in revenue and underlying profit
Revenue of £1,466.3m, up 6% (at constant currency), demonstrating the benefit of their diverse and resilient revenue streams
Record first half underlying operating profit of £67.0m, up 50% (at constant currency), with an increased underlying operating profit margin of 4.6% (H1 2022: 3.2%). Performance driven by improved performance at North America Foundations and a strong margin performance at Suncoast, offset by losses associated with the closeout of legacy projects at Austral and a more competitive pricing environment due to market conditions in Europe
Underlying diluted EPS of 56.0p, up 48%, with growth in earnings moderated by higher finance costs
Statutory diluted EPS of 45.0p, up 81%
Strong recovery in free cash flow before interest and tax of £40.8m, benefitting from the increased underlying profits and the improved working capital performance
Net debt of £244.6m, up 26%, impacted by the timing of US tax payments. Net debt/EBITDA leverage ratio of 1.2x (H1 2022: 1.2x)
Strong order book of £1.5bn which underpins performance in the second half of the year
Overall accident frequency rate decreased to 0.09 from 0.10 injuries per 100,000 hours worked
Interim dividend increased by 5% to 13.9p (H1 2022: 13.2p), reflecting strong performance and confidence in both the second half and their longer-term prospects
