Kier’s orderbook grows £100m

Group order book currently stands at £10.9 billion (30 June 2024: £10.8 billion), and the group estimates c.95 per cent of FY25 revenue is now secured, up from c.90 per cent previously announced.

In Kier’s latest financial results for the year ended 30 June 2024, revenue grew 16.6 per cent to £4 billion, up from £3.4 billion in the previous year. 

The contractor boosted pre-tax profit to £68.1 million, up 31.2 per cent from £51.9 million.

The group claimed bidding discipline and risk management continued to ‘drive the high quality and profitable order book.’

Recent awards for the contractor include:

• Appointed by Wessex Water to its five year Capital Delivery Partner Framework for its Asset Management Period 8 (“AMP8”) worth up to £3.7 billion. 
• Awarded two education projects worth a total of c.£30 million.
• Appointed by the Defence Infrastructure Organisation (“DIO”) for a major infrastructure project at Royal Naval Air Station Culdrose, worth £100 million. 
• Kier Places awarded a place on Riverside Group’s four year framework to deliver the housing association’s fire safety and retrofit programme worth up to £300 million.

In terms of cash, Kier maintained its focus on operational delivery and cash management. 

The Group continued to de-leverage in-line with the Board’s expectations and anticipates a significant period-on-period improvement.

Andrew Davies, Chief Executive of Kier, said: “The current financial year has started well and we are trading in line with our expectations. 

“We 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.”

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