Kier sees current trading ahead of expectations as FY profits rise
Infrastructure and construction group Kier Group Plc said trading at the start of its current financial year was trading slightly ahead of expectations as it reported a 15% jump in profit for the 12 months to June 30.
Pre-tax earnings came in at £78.1m while Kier's order book rose 2% to a record £11bn. On an adjusted basis, profit rose 3% to £125m.
"Kier remains well positioned to ... benefit from the UK government's 10-year Infrastructure Strategy spending commitments," the company said on Tuesday.
Reporting by Frank Prenesti for Sharecast.com
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
