Edition:
India

Keller Group Sees FY Rev To Be Broadly Flat Vs 2018


Friday, 20 Sep 2019 

Sept 20 (Reuters) - Keller Group PLC ::ISSUES AN UPDATE ON TRADING WHICH REITERATES ITS EXISTING OUTLOOK FOR FULL YEAR AND ASSUMPTIONS THAT UNDERPIN IT.TRADING MOMENTUM IN NORTH AMERICA IN SECOND HALF HAS STARTED MORE SLOWLY THAN PREVIOUSLY EXPECTED.FULL YEAR REVENUE FOR 2019 IS STILL EXPECTED TO BE BROADLY FLAT VERSUS 2018.TRADING IN EMEA REMAINS MIXED.EXPECTS AN IMPROVEMENT IN FY MARGIN PROGRESSIVELY DRIVING AN INCREASE IN PROFIT.FULL YEAR RESULT IS MORE DEPENDENT THAN USUAL ON TIMING OF EXPECTED LARGE CONTRACT AWARDS.TRADING MOMENTUM IN NORTH AMERICA IN SECOND HALF HAS STARTED MORE SLOWLY THAN PREVIOUSLY EXPECTED.TRADING IN EMEA REMAINS MIXED, WITH GOOD PROGRESS IN OUR KEY CONTINENTAL EUROPEAN BUSINESSES.DELIVERING WELL AND IS SLIGHTLY AHEAD OF PLAN ON WATERWAY RESTRUCTURING PROGRAMME.IN APAC, WE ARE ON TRACK IN WINNING NEW TARGETED CONTRACTS IN AUSTRALIA, WHICH WILL RAMP UP DURING Q4.CONTINUES TO EXPECT THAT NET DEBT WILL REDUCE YEAR-ON-YEAR.