Keller sees FY at bottom end of forecasts

18th Nov 2010 08:22

Ground preparation engineer Keller said it anticipates full year results to be around the bottom end of market expectations as intense competition continues to bite. "Conditions in the group's mature markets continue to be difficult and the overall picture remains challenging," Keller said in a company statement. Like-for-like revenue in the four months to 17 November was in line with the same period last year, an improvement on the first half, which was hit by severe weather and weak market conditions. Keller said its UK business continues to be hurt by very weak market conditions. Conditions in the general US construction market overall remain challenging, although the rate of year-on-year decline in spending has slowed, the group added. Within Continental Europe, its Polish business performed well in a market which remains strong and the business in Germany has continued to hold up. The Australian business is still performing strongly, largely on the back of infrastructure and resources-related projects, Keller said.