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Kier Announces Significant Revenue Growth

Property, construction, residential and services group Kier has announced “significant revenue growth to £1.7 billion, up 34 per cent,” according to the firm’s full-year results.

The company said that the results for the year ending June 30 this year were underpinned by “a raft of strong facilities management contract wins, worth a total of around £100 million.”

The results also showed that underlying profit from operations of £150 million increased by 44%, including a full year’s contribution from Mouchel, an increased share of post-tax results of joint ventures in the property division and margin recovery supported by cost efficiencies. Underlying earnings per share were up 11 per cent at 106.7p, it added.

Kier FM and business services operations have been brought together under one division, Kier Workplace Services, which launched on July 1 this year and provides end to end workplace solutions for private and public sector clients, encompassing FM, property and asset management and business processing.

Steve Davies, managing director, Kier Workplace Service, said: “The provision of a broader FM offer provides enhanced opportunities with local authority clients, while the combined expertise and experience of our FM and business services teams means we can provide public and private sector clients with an end-to-end solution for their business processes, leaving them free to concentrate on their core business.”

Kier has also announced two further contract victories with the Royal Shakespeare Company and Imperial War Museums, worth a total of £13.2 million over the terms of the respective three and five year deals.

The group welcomed the government’s final go-ahead for the £18bn Hinkley project. It said that the decision marks “a major step in the UK’s nuclear renaissance” — Whitehall has said it wants to build enough new nuclear reactors to meet about a third of the UK’s energy needs by 2030.

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BDC 318 : Jul 2024