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Ground engineering firm Keller stands firm against recession

Ground engineering giant Keller said today that its order books remain strong despite global economic uncertainty and the decline of the UK housing sector.

In a routine trading update in advance of its results for the financial year ending 31 December 2008, which will be announced on 2 March
2009, the firm said it continues to see strong trading, giving the board confidence that the Group will report an "excellent" set of results for 2008.

The global firm warned that orders had fallen in a number of its worldwide regions, but said that the relative weakness of the pound meant that the sterling value of the order book remains steady.

"Unsurprisingly, given the global economic uncertainty, orders in a number of geographies have eased in the past few months from their recent high level.

"However, with the strengthening of most currencies against sterling, the sterling value of the order book remains at a similar level to this time last year."

The trading update followed an interim management statement in November for the period 1 July to 12 November 2008.

Then, the firm said trading in the period had remained very strong, with good organic growth, particularly in Eastern Europe, Middle East and Australia.

Its US operaton reported a more general weakening across the commercial sector.

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