Acquisitions push Keller through the £500m barrier

Keller's year-on-year growth through acquisition has resulted in a sparkling set of financial results for the year 2002, with pre-tax profit jumping to £27m (£22m) as turnover broke through the £500m barrier for the first time.

The figures (12 months to 31 December) show turnover at £510m (£420m). Tom Dobson, chief executive, said: "These excellent results demonstrate our ability to generate sustained organic growth, complemented by value-creating acquisitions."

The acquisition quest rolls on. In December 2002, a 51% interest in new Spanish subsidiary Keller-Terra was bought for £9m while McKinney Drilling in the US was added for a down payment of £17m.

Justin Atkinson has been promoted from finance director to chief operating officer. The search for a new finance director is already underway.

There are two new faces on the main board: Bob Rubright, managing director of the Foundations Services subsidiary, and Rob Ewen who heads up Specialist Services.