Keller Group plc
FormerlyChidworth Limited (1989–1990)[1]
Company typePublic limited company
IndustryGround engineering
Founded1860; 164 years ago (1860)
HeadquartersLondon, England
Key people
RevenueIncrease £2,966.0 million (2023)[2]
Increase £180.9 million (2023)[2]
Increase £89.8 million (2023)[2]
Number of employees
10,000 (2024)[3]
Subsidiaries
  • Cyntech
  • GEO-Instruments
  • Suncoast Post-Tension
  • Moretrench Industrial
  • Phi Group
Websitekeller.com

Keller Group plc (LSE: KLR) is a geotechnical engineering company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company is the world's largest geotechnical specialist contractor.[4]

History

The company was established in the 1950s as the ground engineering division of GKN plc.[5] In 1960, it expanded into a stand-alone piling and ground improvement company and, in 1975, it acquired the German company Johann Keller and took on that name.[5] In 1984 Keller bought Hayward Baker Inc., a US ground engineering business.[6] In 1990 it was the subject of a management buy-out from GKN plc supported by Candover[6] and it was first listed on the London Stock Exchange in May 1994.[7] In 2006, Keller Group acquired Anderson Drilling, the creaters and owners of the Big Stan drilling rig.[8] In 2007, the company sold its social housing division for nominal consideration;[9] also in 2007 the company acquired HJ Foundation for £24.5 million.[10]

In January 2023, Keller published a profit warning after a "deliberate and sophisticated financial reporting fraud" at Austral Construction.[11][12][13] The estimated impact was £6m related to the first half of 2022, and £8m to £10m relating to prior years. Two directors were dismissed as investigations continued,[14][15] and the company's shares fell 10%.[16] The fraud was described by The Times as "apparently sophisticated".[17] Keller's pre-tax profit for 2022 fell by 17% as a result; it made £56m profit across the year, from a turnover of £2.9bn.[18]

Operations

Keller operates under three divisions and is supported by its group head office:

The company has been involved in laying foundations for complex projects including High Speed 2 in the UK[22] and the Spirit Tower in Australia.[23]

Keller lays foundations for the Spirit Tower, one of Australia's tallest buildings
Keller completes foundation for luxury apartments - Miami

See also

References

  1. ^ "Keller Group plc overview - Find and update company information - GOV.UK". Companies House. 1989-11-13. Retrieved 2024-02-17.
  2. ^ a b c "Annual Results 2023" (PDF). Keller Group. Retrieved 5 March 2024.
  3. ^ "Sustainability". Keller Group. Retrieved 13 February 2024.
  4. ^ "Keller performing well 'despite challenges'". Ground Engineering. 22 November 2021. Retrieved 11 March 2023.
  5. ^ a b "Share of the week: Keller Group". The Times. 11 December 2017. Retrieved 23 May 2019.
  6. ^ a b Brown, G. (2015). The Independent Director: The Non-Executive Director's Guide to Effective Board Presence. Palgrave Macmillan. ISBN 978-1349502691.
  7. ^ "Keller Group". London Stock Exchange. Archived from the original on 4 August 2019. Retrieved 23 May 2019.
  8. ^ "Meet Big Stan: Giant Drill Is the Rock Star of the Southwest | 2011-08-08 | ENR | Engineering News-Record". www.enr.com. Retrieved 2022-09-10.
  9. ^ Boyd, Olivia (20 September 2007). "Keller sells social housing business to Mears". Building.
  10. ^ McCulloch, Chloë (2 October 2007). "Keller Group buys US piling contractor for £24.5m". Building. Retrieved 4 August 2019.
  11. ^ "Fraud a profit drag for Keller". Investors Chronicle. 7 March 2023. Retrieved 11 March 2023.
  12. ^ "Keller shares underpinned despite revelation of fraud at Australian unit". Shares Magazine. 9 January 2023. Retrieved 11 March 2023.
  13. ^ "Keller Posts Strong Overall Performance In H2; Identifies Financial Reporting Fraud In Austral Unit". RTT News. 9 January 2023. Retrieved 11 March 2023.
  14. ^ "Two sacked as top mining contractor uncovers suspected 'sophisticated fraud'". Sydney Morning Herald. 10 January 2023. Retrieved 7 March 2023.
  15. ^ Morby, Aaron (9 January 2023). "Keller fires two directors after unearthing profit reporting fraud". Construction Enquirer. Retrieved 9 January 2023.
  16. ^ Pitcher, Greg (9 January 2023). "Keller shares plunge after reporting fraud uncovered". Construction News. Retrieved 9 January 2023.
  17. ^ "Keller sacks two and counts the cost of 'apparently sophisticated' fraud". The Times. 10 January 2023. Retrieved 12 March 2023.
  18. ^ Ing, Will (7 March 2023). "Keller profit falls after £18m reporting fraud". Construction News. Retrieved 8 March 2023.
  19. ^ "Keller rebrands North American businesses". The Construction Index. 6 January 2020. Retrieved 6 January 2020.
  20. ^ "Keller focuses European operation". Ground Engineering. 19 November 2020. Retrieved 17 March 2023.
  21. ^ "Keller to shut loss-making Australian subsidiary". The Construction Index. 1 July 2019. Retrieved 1 July 2019.
  22. ^ "HS2: Bauer-Keller JV wins £95M geotechnical contract". Ground Engineering. 14 April 2021. Retrieved 12 March 2023.
  23. ^ "$1.2b Surfers tower begins its rise". Gold Coast Bulletin. 18 February 2017. Retrieved 12 March 2023.

External links

Geotechnical engineering
Construction industry of the United Kingdom
FTSE 100 ← FTSE 250 companies of the United Kingdom → FTSE SmallCap
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