Keller has said that it expects to see “a continuation of recent progress” in its business for the rest of the year despite it reporting that economic conditions across global construction markets continue to be varied.
In an interim management statement, the company said that it has seen a strong start to the year with revenue and profits for the first four months being better than forecast by the board at the time of announcing its 2012 preliminary results in March.
Keller has said that the growth seen so far this year is a result of successful completion of a number of major projects, good contract performance overall and relatively benign winter weather in its markets in North America.
In Europe, Keller has said that economic uncertainty is continuing to hold back recovery in some markets but no further deterioration has been seen since the start of the year.
In its statement, Keller said: “Overall, despite the challenging market conditions, the performance of the Europe, Middle East and Africa (EMEA) division has improved in the year to date, benefitting from the self-help measures implemented during 2012.
“The large infrastructure projects in EMEA – most notably the Crossrail and Victoria Station Upgrade contracts in the UK and the Gdansk road tunnel project in Poland – are all progressing well.
“Keller was also recently awarded its largest contract to date in Russia, involving the preparation of a complete excavation pit for a new residential complex located in central Moscow. In undertaking this contract, we will draw on equipment and the experienced workforce from neighbouring countries, in particular Poland.”
For the rest of the world, Keller has said that it remains optimistic about a progressive strengthening of its US business and it sees good opportunities in the Asian market.