1st Jul 2020 14:44
Kier Group PLC - Manchester-headquartered construction firm - Trading to the end of March in line with expectations. Revenue has been hurt by the Covid-19 pandemic and exceptional costs have been incurred. Underlying performance "resilient", with 80% of sites remaining open. All sites are now open. Measures implemented to lower costs expected to result in savings of around GBP100 million in the financial year ended Tuesday. Covid-19 to continue to negatively affect volumes, but outlook remains confident due to GBP7.6 billion order book as at the end of May.
Current stock price: 87.14 pence
Year-to-date change: down 8.0%
By Ife Taiwo; [email protected]
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