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Builders and building materials

Keller scoots higher as profits soar

Keller Group PLC (LSE:KLR) shares shot up 8% as it reported profits more than doubled in the half year to end June, with cashflow also surging ahead.

Michael Speakman, chief executive, said it had been an outstanding first half for the group, which prepares ground ahead of the start of construction projects, especially in North America.

Orders have risen to £1.6 billion and Speakman said results for the full year will be "materially ahead" of current market expectations for profits of £178 million.

Interim underlying profits were £113 million, up from £67 million, as margins rose by 300 basis points (3%) while pre-tax profits rose 121% to £95.3 million and cash generated jumped 229%.

Shares added 116p to 1,494p.

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