2003 Press Releases
13/05/2003
AGM statement and trading update
Dr Michael West, Keller Group Chairman, speaking at the Company’s Annual General Meeting to be held at 09.30 this morning, will make the following comments to shareholders:“As we indicated in the announcement of our excellent 2002 results, the first quarter of the current year got off to a slow start, with some jobs delayed by weather in the US and weak trading in the UK. Nevertheless, contract awards for the first three months of 2003 remained strong in most parts of the business. The total order book stood at just over £220 million at the end of March 2003, representing four and a half months’ sales, which compares to just under £200 million at the same time last year. “Once again, the profile of our global order book – representing a mix of small and medium sized contracts with a balance between new-build and refurbishment and between the public and private sectors – demonstrates our resilience to downturns in particular market sectors and countries. “This year, the Group will benefit from a full year’s contribution from the businesses that we acquired in December 2002, McKinney and Keller-Terra, and their integration is proceeding in line with plan.
“Overall, the Board expects another year of steady progress for the Keller Group.” A trading update for the first half of the current financial year will be announced towards the end of June 2003.
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