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BUZZ-Keller: Co warns of slow start to year
May 14, 2015 / 11:32 AM / 3 years ago

BUZZ-Keller: Co warns of slow start to year

** Keller Group Plc’s stock drops 3.8 pct & 2nd largest loser on FTSE-250 after the ground engineering contractor says both revenue and profit in the four months to April are behind last year

** Co says slow start due to previous flagged decrease in Australia, delays on certain major projects and the heavy snowfall in North America for an extended period

** “Although it has been a slow start to FY15 and profits are therefore set to be more H2 weighted than normal, order book momentum implies that FY15 expectations will be achieved,” Investec analyst Andrew Gibb writes in a note

** Co, which lays foundations for infrastructure and industrial projects, says FY results will be in line with market expectations, although more H2 weighted than normal

** Shares have gained 17 pct YTD (RM:

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