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Keller Group profit nearly doubles on U.S. housing recovery
March 4, 2013 / 7:30 AM / 5 years ago

Keller Group profit nearly doubles on U.S. housing recovery

March 4 (Reuters) - British construction company Keller Group Plc reported a near-doubling in full-year profit as its North American business was boosted by an increase in U.S. spending on private homes.

The company, which built the foundations for London’s Olympic Stadium, profit before tax rose to 43.5 million pounds ($65.3 million) in the year ended Dec. 31, up 98 percent from 21.9 million pounds a year earlier.

Revenue increased 14 percent to 1.32 billion pounds.

Revenue from the company’s North American business, which accounted for 44 percent of revenue in 2012, rose to 581.9 million pounds from 471.1 million a year earlier.

Keller’s shares, which have risen about 80 percent over the past year, closed at 746 pence on Friday on the London Stock Exchange.

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