Kier on target

The UK’s Kier Group’s board has announced that the group remains on course to meet its expectations for the current financial year, in its Annual General Meeting trading update covering the period from 1 July, 2014, to date.

It said its construction division had maintained its good performance, with a significant contribution from UK frameworks. The order book of secured and probable work at £2.6 billion (€3.32 billion) provides for 100% of the predicted revenue for the current financial year, which it said was ahead of the equivalent position last year.

It added that the level of new work continued to improve across the UK, and it said it was continuing to manage the inflationary pressures in the sector. Operating margins were said to remain in line with the group’s expectations for this financial year, at approximately 2%.

Its half-year results, announced in September, revealed its revenues had more than doubled last year’s performance.