News Kier Trades Robustly

In its latest update to the stockmarket today, Kier Group says it continues to trade resiliently in difficult market conditions.

It said: “Trading continues to be resilient with current operating margins above 2%. Our order book of secured and probable work represents 85% of our forecast Construction revenue for the 2013 financial year and the level of tender activity remains high across a range of public and private sector projects. These include new health frameworks across Wales and Scotland, in excess of £1.5bn of infrastructure schemes that we are bidding in the UK and significant activity in Hong Kong and the Middle East.

“The long awaited Priority Schools Building Programme (PSBP) to design and build educational facilities in England, has recently been confirmed, with the first £400m of projects now announced and being delivered through the Academies (II) Framework of which Kier is a member.”

“Property continues to provide good quality work to our other divisions and is trading well and in line with expectations. We have recently been confirmed as preferred bidder for the £50m PFI project to design, build and maintain 11 fire stations across the county for Staffordshire Fire and Rescue Service, which follows closely behind the £60m PFI project to provide similar facilities for the London Fire Brigade, announced in April.”

“The Group’s trading performance remains in line with expectations. We have robust order books and a healthy cash position.”

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