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Keller steers course for £1bn turnover

Ground engineering specialist Keller's annual turnover looked on course to hit £1bn in 2008 as it posted a record turnover of £955.1M for the year ending December 2007.

This was an 11% increase on the firm's revenue for 2006, with profits up by 23% to £103.2M.
Keller chairman Michael West said more acquisitions, especially in the Middle East and Australia, were likely in 2008.

Chief executive Justin Atkinson said Keller was benefiting from the UK's construction boom, but it was not significant against the overseas markets, which accounts for 97% of group profits.

While Keller's US operations account for half of its turnover, growth in the commercial sector offset a shrinking housing market. Growth came from non-US markets. In Australia, profits more than doubled to £14.7M, and profits in continental Europe and the Middle East rose by 70% to £30.4M.

"In any one year we have 8,500 projects, and many of these are the small, bread-and-butter projects that some people take for granted," said Atkinson.

"While the big projects help top lines, the small projects also have good margins."

This year Keller will complete the foundations for the 610m-tall Chicago spire, and ground work at the Palm Deira in Dubai.

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