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Keller says to take 30 mln stg charge in first half
July 30, 2014 / 2:10 PM / 3 years ago

Keller says to take 30 mln stg charge in first half

July 30 (Reuters) - British construction company Keller Group Plc said it would take a charge of 30 million pounds ($51 million) in the first half, related to a dispute on a project completed by its unit in 2008.

Keller said the dispute relates to purported defects in a floor slab at a warehouse for which its unit, Keller Ltd, undertook the design and construction of the piling.

Keller, which built the foundation for London’s Olympic stadium, said the claims are currently the subject of litigation.

The company said the charge was before taking into account recoveries under applicable insurances.

Keller is scheduled to report first-half results on Aug. 4. The company’s pretax profit jumped 70 percent to 74.1 million pounds in the year ended Dec. 31.

Shares in the FTSE-250 company were down 1.6 percent at 898 pence per share at 1404 GMT. ($1 = 0.5916 British Pounds) (Reporting by Aashika Jain in Bangalore; Editing by Savio D‘Souza)

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