Kier results in line with expectations

By Sarah Ann McCay12 September 2013

Uk contractor Kier has announced underlying pre-tax profits of £63.4 million (€75 million) for the financial year ended June 2013 in its preliminary results, posted today.

While it said pre-tax profits were in line with its expectations, the figure marked a drop from 2012’s £70 million (€83 million). Operating profit also saw a decline at £49.3 million (€58.6 million), down from £67.4 million (€80.2 million) in 2012.

The firm’s construction division posted total revenue of £1.3 billion (€1.5 billion) and operating profit of £30.4 million (€36 million) while its services division posted total revenue of £437 million (€520 million) and operating profit of £19.3 million (23 million). Order books for construction and services held a combined value of £4 billion (€4.7 billion).

Kier chief executive Paul Sheffield said: “The modest decline in revenue and profit reflects the tough trading conditions the industry has faced during the year, but I am delighted to see that the divisional trading results remain robust. Margins in construction and services were resilient and our property division again made a strong contribution.”

Kier acquired infrastructure services firm May Gurney in July, creating a support services business with revenues in excess of £1 billion (€1.2 billion).

2013 also saw Keir net a number of significant project wins. These included the Mersey Gateway Bridge, Broadmoor Hospital re-development, securing the re-development rights to the Swan Hunter shipyards on Tyneside and over £200 million (€240 million) of housing maintenance awards.

Latest News
Hybrid and fleet management launches from Bronto
Truck mount lithium Hybrid Pack and new customer cloud portal will be launched at Bauma 
Plans revealed for world’s highest ‘green’ building
Hybrid timber building to stand at 96m tall
Manitowoc to launch new tower cranes at Bauma 2022
The manufacturer is to exhibit five cranes at the world’s largest trade show