Kier’s half year results in line with expectations

KierProperty, residential, construction and services firm Kier Group’s underlying trading performance in the first half of its financial year has met its management’s expectations, the firm said today.

A trading update for the business revealed that Kier’s construction and services order book had been maintained at about £9 billion by the end of December 31.

Its property arm has continued to be boosted by clients investing in new schemes, with a healthy pipeline in place. Its residential arm, meanwhile, has been boosted by ongoing strong demand for housing in the UK.

Kier said its overall trading for the first half to December 31 met its expectations and maintained its outlook for the full year, with its annual results to be weighted to the second half.

“The strength of the property pipeline, the good forward sold position in the residential division and the combined construction and services order book…, positions the group well for the future,” Kier said in a statement.

Half year results will be announced on March 23.

Tags: Kier Group

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