LONDON (dpa-AFX) - Keller Group plc (KLR.L) reported statutory profit before tax of 110.6 million pounds for the year ended 31 December 2017 compared to 73.9 million pounds, prior year. Profit to equity holders of the parent increased to 87.1 million pounds or 120.5 pence per share from 47.2 million pounds or 64.7 pence per share, prior year. Underlying profit before tax were up 16% to 98.7 million pounds. Underlying basic earnings per share increased 35% to 102.2 pence, in part due to a one-off tax credit of 9.7 million pounds.
Fiscal year revenue was 2.07 billion pounds, an increase of 16%, driven by strong organic growth. The Group said constant currency revenue was up 10%, primarily as a result of strong organic growth in the EMEA and APAC regions. Constant currency revenue in North America was down 4% year on year.
Alain Michaelis, Chief Executive, said: 'Overall Keller has had a positive year with good growth in group revenue and profits. The results were extremely strong in EMEA and solid in North America, but disappointing in APAC. Ongoing operational improvements, strengthened leadership and market recovery should lead to APAC returning to profitability in 2018. The order book of over 1 billion puonds gives us confidence as we start 2018. Most of our markets remain robust and bidding activity is at a healthy level. Overall, despite the completion of our excellent Caspian project, we expect 2018 to be another year of underlying progress'.
The Board has decided to rebase future dividends and accordingly recommended a 20% increase in the 2017 full year dividend to 34.2 pence. The recommendation results in a proposed 2017 final dividend of 24.5 pence per share, a 27% increase, to be paid on 22 June 2018 to shareholders on the register as at the close of business on 1 June 2018. The group said it intends to maintain a progressive dividend policy in the future.
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