Firm says it expects to make more inroads into debt pile this financial year

Kier has said its order book stands at just under 拢11bn with 95% of its revenue for the current financial year already secured.

In a trading update, the firm, which has resumed annual dividend payments for the first time in six years, said its order book had gone up 拢100m to 拢10.9bn since its year-end on 30 June.

Chief executive Andrew Davies said: 鈥淲e are well positioned to benefit from UK government infrastructure spending plans into areas where Kier offers market leading services. These strong structural drivers and further investments will allow us to further generate shareholder returns.鈥�

Andrew Davies (1)

Chief executive Andrew Davies said Kier was well-placed to benefit from the government鈥檚 spending plans announced in last month鈥檚 budget

The firm鈥檚 average month-end net debt at the end of its last financial year was 拢116m, down from more than 拢500m at its peak, with analysts expecting it to return to a net cash position in early 2026.

In this morning鈥檚 update, the firm added: 鈥淜ier has maintained its focus on operational delivery and cash management. The group continues to de-leverage in-line with the board鈥檚 expectations and anticipates a significant period-on-period improvement.鈥�

Kier, which has taken on around 70 former ISG staff and is being sounded out about taking over some of its public sector contracts, is due to announce its interim results on 11 March.

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