LONDON (dpa-AFX) - Keller Group plc (KLR.L) announced that its board continues to expect performance for 2019 to be in line with market expectations. Keller also announced separately that it has named its interim chief executive officer, Michael Speakman, to the permanent role with immediate effect.
Keller also has undertaken a review of its strategy, resulting in the group rationalising its geographic presence and exiting certain non-core services. The company plans to make a phased withdrawal from South America, where market conditions remain challenging. The company expects its APAC division to return to profit for the full year. Keller have also commenced a strategic review of Franki Africa activities.
The company expects 2019 net debt/EBITDA to be at or below 1.5x on an IAS17 basis and strong cash flow to result in further deleveraging. The company's board also confirmed that it intends to maintain the current progressive dividend policy.
Copyright RTT News/dpa-AFX