Kier builds revenue to £4.27bn
Cambridge and Sandy based property company Kier Group plc increased revenues five per cent to £4.27 billion for the year ended June 30. Underlying profit from operations of £146 million was up three per cent.
The share price increased 88.10p on the news (8.05 per cent) to 1,183p. The company cites leading positions in markets with solid long-term fundamentals and a growing order book of approximately £9.5bn.
Kier Group employs over 150 people from its offices at Cambridge Business Park, Waterbeach.
The company is on site with over £100m of projects in Cambridge, including a new £79m research facility for the University of Cambridge and a £46m office and laboratory development at Cambridge Biomedical Campus.
Kier was also recently awarded a place on all five lots of Cambridgeshire County Council’s £700m Design and Build Contractor framework, which will be used to deliver projects primarily in the education sector.
CEO Haydn Mursell, said: “Our underlying performance for the year was good. Having simplified our portfolio, the group is more focused and able to pursue its growth ambitions in our three core markets; building, infrastructure and housing, which now represent 90 per cent of the group’s revenue and profit.
“We continue to invest in the business to improve our operational efficiency, providing a robust platform on which to take advantage of the strong long-term fundamentals in these core markets.
“Our Construction and Services order books of £9.5bn, together with our c.£2bn property development and residential pipelines, provide good long-term visibility of our future work. This visibility, coupled with our healthy balance sheet, provides us with confidence of achieving our Vision 2020 strategic targets.”
The board has proposed a five per cent hike in the full-year dividend to 67.5p.
• PHOTOGRAPH SHOWS: Kier Group CEO, Haydn Mursell