Keller has been hit by a 34% drop in profit, from 拢113.2m to 拢74.7m, in its results for the year ending 31 December 2009.
The ground engineering specialist also suffered a 13% drop in turnover to 拢1.04, down from 拢1.20bn the prior year.
Keller chief executive Justin Atkinson said: 鈥淭he group鈥檚 2009 results held up well, given that most of our markets were severely depressed throughout the year.
鈥淒espite a general shortage of contract awards, resulting in intense competition and tighter pricing, good overall contract performance and our firm cost control mitigated the impact on the group鈥檚 operating margin.鈥�
He added: 鈥淭he group is in a very sound financial position, which we will safeguard through our constant focus on cash generation and costs. From this position of strength, we expect to continue to grow in those markets which offer good opportunities.
鈥淚n more mature markets, the actions taken to protect our profitability mean that we will emerge from the downturn even stronger and ready to seize the advantage, as these regions recover.鈥�
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