Keller chief executive Alain Michaelis expects geotechnical work from HS2 to boost revenues in the UK ground engineering market by around a third for at least two to three years.
Michaelis made the claims during Keller’s financial analysts press conference for its half year results to 30 June 2018, which were announced today.
Based on the latest data from GE’s 2018 Geotechnical Services File, which is set to be published next week, the UK ground engineering market currently has a turnover of more than £1.7bn. Michaelis’ expectations suggest that the industry will see a significant upturn at the end of 2019 and by 2020 the sector could be valued at more than £2.2bn.
“Work coming through from HS2 will be a significant factor in growth in the second half of 2019 across the industry,” said Michealis.
Michaelis declined to comment on how much work Keller is targeting on HS2 but said that industry capacity and ability to react quickly is likely to be a big factor in who is awarded geotechnical work on HS2.