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Keller revenue drops

Keller’s revenue fell but its pretax profits rose in the first half of this year.

The ground engineering specialist posted revenue of £755.8M for the six months to 30 June 2015. This was down 4% from the same period a year earlier.

But pretax profit before exceptional items grew 6% to £34.6M in the same period .

In Europe, the Middle East and Africa, revenue was down 2% to £210.3M while operating profit before exceptional items was up by more than 150% to £7M.

Keller said that UK revenue was down on the same period last year as major projects at Crossrail and Victoria Station had finished. But it added that strong recent contract awards should lead to an improved second half for the firm.

Keller chief executive Alain Michaelis said: “While conditions remain challenging in many of the markets in which we operate, the recovery in US construction, the group’s largest market, remains robust and broad-based.

“This, together with the benefits from improvements that the group has implemented, means that the board remains confident that the group’s results for the year will be in line with current market expectations.”

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