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TAKE PROFITS Keller Group (KLR)

Close Keller Group (KLR) at 1,598p

Keller’s share price jumped higher last week following another impressive trading update, which revealed record-breaking performance metrics for the first half of 2024.

The company’s interim results highlighted a substantial increase in revenue, up 2% to £1.49 billion, and a remarkable 76% rise in underlying operating profit, reaching £113.2 million when adjusted for constant currency. This performance was bolstered by a significant improvement in operating profit margins, which increased by 300 basis points to 7.6%.

The trading update was further supported by Keller’s robust order book, which reached a record £1.6 billion. This record backlog, along with the company’s ongoing focus on sustainable markets and high-quality projects, has led the board to increase their full-year 2024 performance expectations. The positive outlook and solid financial results significantly enhanced investor confidence, contributing to the notable rise in Keller’s share price.

However, with much of this good news now baked into the stock, we believe that the recent gains reflect a peak in positive sentiment. As a result, we have decided to crystallize our substantial profits in Keller shares by taking profits across two positions.

Profit (Inc dividends) 103.5%

KLR Daily Candle Chart