LONDON, June 25 (Reuters) – British ground engineer Keller (KLR.L) said on Friday it expected its full year results to fall within current market forecasts adding that there would be no significant change to its trading outlook.
“The expected results for the full year remain within the current range of market expectations,” Keller, which laid the foundations for the London Olympic Stadium, said in a statement.
In May the company, which will release its full year results in August, warned earnings could be well below expectations because falling construction sales and volumes would wipe out first half profits in the United States.
Revenues at its U.S. unit, the largest part of its business with 40 percent of group sales, were down about 20 percent in the first four months of the year.
Concerns about public spending cuts in Britain hitting building and construction companies were soothed earlier in the week when the new coalition government announced a regional growth fund to finance capital projects in its budget.
Shares in the company closed at 550 pence, giving the company a market value of about 350 million pounds. (Reporting by Golnar Motevalli; Editing by Myles Neligan)