No US improvement for Keller

25th Jun 2010 07:13

Ground preparation engineer Keller has seen no pick-up in its struggling US business.Keller warned six weeks ago of major headaches in the US and today said there have been no significant changes to the group's trading or outlook since then."Accordingly, the expected results for the full year remain within the current range of market expectations," it said in a very brief statement.Last month the group, which specialises in digging the holes for the foundations prior to the start of a construction project, said, "A continued deterioration in the US construction market has led to a further reduction in volumes in our US businesses. More importantly, the resulting more intense competitive environment has led to increased pressure on margins, which is likely to continue for the remainder of 2010".The company generates around two-fifths of its revenue in the US.