2004 Press Releases
12/03/2004
Preliminary results for the year ended 31 December 2003
Keller Group plc (“Keller” or “the Group”), the international ground engineering specialist, is pleased to announce its preliminary results for the year ended 31 December 2003.Highlights include: - Turnover up 11% at £567.5m (2002: £511.0m), benefiting from first full year contributions from McKinney and Keller-Terra
- Profit before tax* down 6% to £28.7m (2002: £30.4m), impacted by adverse currency fluctuations of £0.9m
- Earnings per share* reduced to 24.1p (2002: 32.7p), reflecting in part an increased minority interest and a higher tax charge
- Total dividend per share increased by 5% to 10.4p (2002: 9.9p)
- Strong cash performance, resulting in a fall in net debt to £60.7m (2002: £68.0m)
- Makers expected to recover in 2004
- Current order book remains good, representing over four months' sales
- Justin Atkinson takes over as Chief Executive at end of March, following the retirement of Tom Dobson
* before exceptional items of £10.5m and amortisation of intangibles of £3.4m (2002: nil and £3.1m) Justin Atkinson, Keller Chief Executive designate said: “The 2003 results mark a disappointing pause in the Group's long-term track record of growth. Our current focus is to consolidate and strengthen our existing businesses, returning Makers to profitability and improving Suncoast's margins during the course of 2004.” “Looking ahead, we are confident of restoring our successful track record of growing the business through a combination of organic expansion, both in existing and new markets, and targeted bolt on acquisitions.” For further information, please contact: | Keller Group plc | www.keller.co.uk | | Tom Dobson, Chief Executive | 020 8341 6424 | | Justin Atkinson, Chief Operating Officer | 020 8341 6424 | | James Hind, Finance Director | | |  | | | Smithfield | | | Reg Hoare/ Anna Rainbow | 020 7390 4600 |
A presentation for analysts will be held at 9.15 for 9.30am at Butcher's Hall, 87-88 Bartholomew Close, EC1Print resolution images are available for the media to download from www.vismedia.co.uk
View the full press release in PDF format (240 KB)
View the Preliminary financial information in PDF format (294 KB) View the Presentation to analysts, 12 March 2004 in PDF format (418 KB)
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