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Kier Group PLC (KIE.L)

KIE.L on London Stock Exchange

1,115.00GBp
18 Oct 2017
Change (% chg)

19.00 (+1.73%)
Prev Close
1,096.00
Open
1,097.00
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1,119.00
Day's Low
1,096.00
Volume
173,168
Avg. Vol
325,097
52-wk High
1,505.00
52-wk Low
1,078.00

Latest Key Developments (Source: Significant Developments)

Kier says confident of achieving double-digit profit growth in FY 18
Thursday, 21 Sep 2017 02:00am EDT 

Sept 21 (Reuters) - KIER GROUP PLC ::TOTAL DIVIDEND UP 5 PERCENT TO 67.5 PENCEPER SHARE.FY CONSTRUCTION AND SERVICES ORDER BOOKS TOTAL APPROXIMATELY £9.5BN AND PROVIDE GOOD LONG-TERM VISIBILITY OF FUTURE WORKLOAD."CONFIDENT OF ACHIEVING DOUBLE-DIGIT PROFIT GROWTH IN FY18".FY REVENUE £4.27 BILLION VERSUS £4.08 BILLION.FY PROFIT BEFORE TAX £126 MILLION VERSUS £116 MILLION.FY NET DEBT 6 OF £110M, AT LOWER END OF MARKET FORECASTS AND MAINTAINING <1x ratio to ebitda.  Full Article

Carillion says CEK JV awarded 2 HS2 lots worth 1.4 bln stg
Monday, 17 Jul 2017 02:19am EDT 

July 17 (Reuters) - Carillion Plc ::Carillion plc - hs2 contract award.‍CEK (Carillion, Eiffage, Kier) joint venture award 2 HS2 lots worth £1.4 bn​.‍these lots will be awarded in two stages​.‍stage two is construction of main works and this is expected to take between four and five years to complete​.‍stage two is construction of main works and this is expected to take between four and five years to complete​.  Full Article

Construction group Kier sees FY underlying profit in line with expectations
Wednesday, 28 Jun 2017 02:00am EDT 

June 28 (Reuters) - Kier Group Plc :Full-Year underlying profit forecast to be in line with expectations.FY net debt anticipated to be c.150 mln stg, at lower-end of market forecasts.Well-Placed for FY2018, with growing order books of approximately 9 bln stg and 85 pct secured revenue position for FY2018..A non-underlying charge of c.73 mln stg from portfolio simplification programme.Core operations have traded in line with expectations since announcement of its interim results on 23 March 2017.Property and residential pipelines continue to improve and our robust construction and services order books total approximately 9 bln stg.  Full Article

Kier Group says Phil White to retire as chairman
Thursday, 23 Mar 2017 03:41am EDT 

Kier Group Plc : Appointment of chairman designate . Phil White to retire as chairman and step down from board with effect from conclusion of the AGM on Nov 17 . White will be succeeded by Philip Cox CBE . Cox will retire as chairman of GPG by 10 September 2017 .Cox will join board as a non-executive director and chairman designate on 1 July 2017 and will assume chairman role immediately following AGM.  Full Article

Kier Group H1 underlying operating profit 56.5 mln stg
Thursday, 23 Mar 2017 03:00am EDT 

Kier Group Plc : H1 underlying operating profit of £56.5 mln, 4 pct organic growth on 2015 . H1 net debt of £179 mln ahead of expectations and expected to be maintained at 1x EBITDA for full year . On track with vision 2020 goals . Interim dividend of 22.5p, up 5 pct . H1 revenue £2,004 mln versus £2,016 mln year ago . Remain on course to deliver our expectations for full year - CEO . Forecast revenue in construction and services 100 pct secured for year to June 2017; approximately 70 pct secured for year to June 2018 .Order book of approximately £9 bln, reflecting strong pipeline conversion in regional building and highway services.  Full Article

Kier Residential forms JV with Cross Keys Homes
Thursday, 23 Mar 2017 03:00am EDT 

Kier Group Plc : Will transfer part of its land bank and a number of its residential developments in east of England, valued at up to £97 mln, into JV . Cross keys contributing up to £4m of equity into JV . Will receive a cash payment of up to £64m for assets and JV will be funded by a non-recourse revolving credit facility from Hsbc Bank Plc . Will be a 90:10 split of economic ownership and each party will have 50:50 voting rights . Initial completion of transaction is expected to take place by 31 March 2017 . JV is expected to be cash generative from completion of transaction. .Expects transaction to be earnings accretive in 2019.  Full Article

Kier named preferred bidder for new Sheffield school
Wednesday, 22 Feb 2017 09:40am EST 

Kier Group Plc :Kier preferred bidder for new Sheffield School.  Full Article

Kier continues to experience good underlying organic growth
Thursday, 26 Jan 2017 02:18am EST 

Kier Group Plc : Net debt position for six months ended 31 December 2016 was 179 mln stg (31 December 2015: 174 mln stg) . Average month-end net debt position for period was in line with prior year at £300m (31 December 2015: 280 mln stg) . Expect to maintain a net debt to EBITDA ratio of less than 1x at 30 June 2017 . Property division has maintained its good performance benefiting from continued investment in new schemes . Residential division continues to benefit from demand in UK for all forms of housing . Construction and services divisions continue to perform well, and we are continuing with closure of our Caribbean operations . Construction and services order books represent 100 pct of forecast revenue for 2017 financial year . Residential division is on track to deliver more than 2,200 completions by 30 June 2017 . Continues to experience good underlying organic growth .Combined construction and services order book, maintained at about 9 bln stg excluding potential further renewals and extensions valued in excess of 2.5 bln stg.  Full Article

Kier says awarded c.140 mln stg Highways England contract
Tuesday, 20 Dec 2016 02:00am EST 

Kier Group Plc : Awarded new Highways England contract worth c.140 mln stg and negotiations underway to finalise new areas 6 and 8 contracts . A 15-year contract, valued at c.140 mln stg, for repair and maintenance services on area 13 of Highways England network . Kier awarded c.140 mln stg Highways England contract .In addition, final negotiations underway to secure 2-year contract to provide maintenance services on areas 6 and 8, covering East Anglia and East Of England..  Full Article

Kier says has good revenue visibility over next three years
Wednesday, 30 Nov 2016 02:00am EST 

Kier Group Plc : UK housing market continues to face a number of challenges that are leading to a significant imbalance between supply and demand of affordable housing .With a mixed tenure pipeline of more than 600 mln stg providing good revenue visibility for business over next three years, group is well positioned.  Full Article

UPDATE 1-Britain's Kier posts 3.5 pct rise in FY profit

Sept 21 British construction and services company Kier Group reported a 3.5 percent rise in full-year profit on Thursday as its acquisition of engineering services provider McNicholas boosted the order book.