KLR Keller Group Plc

 
TIDMKLR 
 
For immediate release 11 February 2015 
 
                          Keller Group plc ("Keller") 
 
Keller announced in July 2014 that an exceptional charge of GBP30 million was to 
be taken as at the 2014 half year in respect of a dispute arising on a project 
that Keller Limited, Keller's UK subsidiary, completed in 2008. Keller today 
announces that it has reached an agreement to settle with the other parties 
involved in the litigation. 
 
The final cost to Keller is dependent on a number of remedial actions to be 
undertaken as part of the settlement agreement but is not expected to exceed GBP 
60 million, before taking account of any yet to be agreed insurance recoveries. 
The full terms of the settlement agreement are confidential between the 
parties. 
 
As a result, it is expected that Keller will make a further exceptional charge 
of between GBP20 and GBP30 million in its 2014 full year results. This amount is 
stated before taking account of future recoveries under applicable insurances 
which are yet to be agreed, as these cannot be recognised under IFRS. 
 
Keller will announce its full year results on Monday 2 March 2015. 
 
For further information, please contact: 
 
Keller Group plc 
Justin Atkinson, Chief Executive            020 7616 7575 
James Hind, Finance Director 
 
Finsbury 
Gordon Simpson/Rowley Hudson                020 7251 3801 
 
 
Notes to Editors: 
 
Keller is the world's largest independent ground engineering specialist, 
providing technically advanced and cost-effective foundation solutions to the 
construction industry. With annual revenue of around GBP1.6bn, Keller has 
approximately 9,000 staff world-wide. 
 
Keller is the clear market leader in North America and Australia; it has prime 
positions in most established European markets; and a strong profile in many 
developing markets. 
 
 
 
END 
 

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