Across-the-board growth for Kier
By Chris Sleight17 September 2015
Preliminary results from UK-based contractor Kier show its total revenues up +14% for the year ending June 2015, to UK£ 3.4 billion (€ 4.7 billion). The group’s reported operating profit was UK£ 60.9 million (€83.4 million), a +78% increase on last year.
There was growth in revenues across all four of the company’s divisions – Property, Residential, Construction and Services. Among the more striking increases was a +35% increase in the number of residential units delivered, to 2,130 homes and a +42% increase in underlying profit at the Property division.
Kier Group chief executive Haydn Mursell said, “Economic confidence is returning to our core markets and, furthermore, the acquisition of Mouchel represents a major step in accelerating the group’s five-year strategy.”
He added that the company’s order book stood at UK£ 9.3 billion (€ 12.7 billion).
Kier completed its acquisition of UK-based construction company Mouchel in June this year. The deal is expected to add more than UK£ 600 million (€ 820 million) to Kier’s revenues and give the company a stronger position in the UK road building and maintenance sector.
