Member Article

Construction group Kier publish strong performance

Construction group, Kier, has announced it is on course to meet its expectations for the current financial year.

The company says it continues to remain resilient, with operating margins above 2%, despite the difficulties facing the industry.

Kier has continued to win contract awards across both the private and public sectors, with education remaining a significant contributor, and the firm has been selected as preferred bidder on £100m of health projects via the P21+ framework.

The Ministry of Justice Northern Regional Framework, and their National Framework have selected the Befordshire headquarted firm for projects over £10m, both commencing in April for six years and valued between £50m and £100m per framework contracter.

Elsewhere, Kier has secured the Camden Civic Centre on the King’s Cross development, and the Sainsbury Wellcome Centre contract at UCL, with a combined value of roughly £130m.

The statement said: “The Group’s trading performance remains in line with our expectations. In particular, our order books in Construction and Services remain robust and our net cash position remains healthy.

“The positioning of our business, with a presence on nearly 90 frameworks across the Group, together with our Property division increasingly providing good quality work to our other divisions, gives us a competitive advantage and balances the trading pressures of open market opportunities.

“With our strong balance sheet, our excellent track record of delivery and our great people, we remain well placed to win new work, particularly in our chosen growth markets, to strengthen the business both now and over the medium term, which will enable us to maintain our progressive dividend policy.”

This was posted in Bdaily's Members' News section by Tom Keighley .