Geotechnical specialist contractor Keller Group has delivered another “outstanding” set of financial results.
Revenue for the year to 31 December 2024 increased one per cent to £2.99 billion from 2.97 billion the year prior.
The firm generated a pre-tax profit of £183.9 million, up 60 per cent from £125.6 million in 2023, while operating profit was £205.1 million (2023: £153.1 million).
Meanwhile, Keller said it has a record year-end order book of £1.6 billion, compared to £1.5 billion the year before.
It also said its accident frequency rate halved to 0.05, (2023: 0.10).
Keller also announced its intention to launch a multi-year share buyback programme, with an initial tranche of £25 million in the first quarter of 2025.
The company claimed its performance builds on the momentum developed in recent years as a result of the execution of its strategy,which was launched in 2019.
The Strategy rationalised the geographic and product portfolio of the group and recently focused on improving the project execution across the business.
Michael Speakman, chief executive officer, said: “2024 was another outstanding year for Keller, ahead of expectations, delivering improved performance across all key metrics – profits, earnings, margin, return on capital, cash conversion and debt reduction.
“Since launching our strategy we have seen a more consistent performance, improved operating margins and higher levels of cash flow have allowed the Group to grow earnings and de-lever the balance sheet considerably.
“This has given us the platform to increase the dividend and announce our intention to launch a multi-year share buyback programme, part of an ongoing commitment to return capital to shareholders.
“Whilst we remain mindful of the uncertain geopolitical and macroeconomic environment in the short-term, we anticipate further progress in 2025 and a return to our typical second half weighting.
“We have ensured that Keller is set up to be resilient over the medium and longer term and well positioned to capture growth opportunities both organically and through selective M&A.”
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