Firm says construction market recovering

Kier

Kier has reported a haul of 拢450m of construction work in the last four months and said new work in the market is increasing.

In an interim management statement to the City, the firm reported that its order book stood at 拢2.2bn of work and it had secured all its forecasted revenue for the year.  

Recent wins included its place as preferred bidder on two Priority Schools 黑洞社区 Programme lots, in the East of England and the North East, worth a total of 拢116m.

It has also been appointed to deliver projects worth 拢70m for Staffordshire Fire and London Fire Authorities.

Kier said its care home arm, Kier Living, had secured 拢42m of new work in recent months.

It added that it now expected to start its work on site preparations worth 拢100m for EDF鈥檚 new nuclear power plant at Hinkley Point, where it is working in joint venture with Bam Nuttall, in 2014.

In addition it said that its services business, which includes May Gurney, which Kier aquired in July, had secured more than 拢300m of work over the period. The firm said its operating margin was expected to be 4.5%.

Notable wins for the division included a three year maintenance contract with Sheffield City council, worth around 拢100m over the next three years.

The firm said: 鈥淭he integration of May Gurney continues and we remain on track to deliver the forecast 拢5m of cost savings for this financial year. At the same time, we have embedded consistent risk management and approval processes throughout the enlarged division.鈥