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Keller in strong position despite revenue dip

cash

Keller has announced a fall in revenue despite an increase in pretax profit for 2015.

The company posted revenue of £1.56bn for the year ended 31 December 2015. This was down 2% from the same period the year before.

However, pretax profit was £95.7M, up from £85M for the same period in 2014.

The company’s order book also grew by 15%, with increases in all divisions.

Keller chief executive Alain Michaelis said: “The group has performed well in 2015. We have been pleased to record another year of profit growth despite sales being lower as a result of less revenue from large projects.”

The dip in year-on-year revenue is largely attributed to Keller’s completion of the Wheatstone LNG project in Australia in 2014.

Michaelis is confident that the year ahead will see the business strengthen its financial performance, as well as seeking further acquisition opportunities.

“Over the year ahead, I’m confident that we will grow revenue… We would also be very surprised if we were not able to grow our profit line as well,” he said.

“We’ve made two good acquisitions in 2015 and we expect to make more over time. We’re a buyer of quality, so [the opportunities] are not always predictable when they come. There’s a good enough pipeline for me to say we will be making acquisitions.”

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