Raft of strong FM wins underpins Kier's full-year results

23 September 2016 | Herpreet Kaur Grewal

Property, residential, construction 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 the results for the year ending 30 June 2016 were underpinned by “a raft of strong facilities management contract wins, worth a total of around £100 million”.

Underlying profit from operations of £150 million were up 44 per cent, according to the results, and this included 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’s FM and business services operations have been brought together under one division, Kier Workplace Services, which launched on 1 July 2016 and provides end-to-end workplace solutions for public and private 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.”

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

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