Keller Group PLC (LSE:KLR) shares jumped 13% after the company posted results ahead of expectations and unveiled a record £1.6 billion order book.
The world’s largest geotechnical specialist contractor reported a 22% rise in underlying operating profit to £212.6 million, with margins up 100 basis points to 7.1%. Free cash flow surged 87% to £192.6 million, helping slash net debt by 80% to just £29.5 million.
CEO Michael Speakman said, “2024 was another outstanding year for Keller, ahead of expectations, delivering improved performance across all key metrics.”
The company also announced a £25 million share buyback, alongside a 10% dividend increase. With strong momentum and a record pipeline of work, Keller is positioning itself for further growth.
The shares were up 166p at 1,454p.
Broker Panmure Liberum said EPS was 7% ahead of its estimate, and it was planning to increase 2025 and 2026 EPS estimates by 2% and 5%.