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Ground engineering specialist Keller, has started the year well with both operating profits and orders higher in the first four months from last year.
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UK trading has been affected by a weaker housing market, but the order book remains strong, helped by the award of foundation work for the Olympic main stadium. And while US trading is tough, demand for work on non-residential sites is holding-up, although its Suncoast housing operation has seen profits fall.
At 690p the shares are a little below our buy tip (716p, 25 April 2008), but with trading outside the US housing market remaining strong, and we reiterate that advice. Buy.
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
