11th Mar 2025 10:05
(Alliance News) - Kier Group PLC on Tuesday said second-half trading has been positive, with it well positioned to benefit from UK government infrastructure spending.
The Salford, England-based infrastructure services, construction and property group reported a 5.9% increase in pretax profit to GBP28.6 million for the six months ended December 31, from GBP27.0 million the prior year.
This improvement was driven by a 6.0% increase in revenue to GBP1.97 billion from GBP1.86 billion, owing to "solid growth" across Infrastructure Services and Construction.
Infrastructure Services revenue improved 9.3% to GBP1.03 billion from GBP944 million. Construction achieved growth of 1.9% to GBP932 million from GBP915 million.
Kier declared an interim dividend of 2.00 pence, reflecting a 20% uplift from the prior year's 1.67p.
The firm's order book also improved, with Kier reporting a 2.8% increase to GBP11.0 billion from GBP10.7 billion. It added that 98% of expected financial 2025 revenue has been secured.
Looking to the second half of its financial year, Kier said trading has "started well", with it performing in line with board expectations.
Shares in Kier Group were down 8.5% at 128.07 pence on Tuesday morning in London.
Chief Executive Andrew Davies commented: "The group has continued to make significant operational and financial progress. The first half saw Kier deliver increased revenue and profitable growth whilst maintaining strong margins. We continued to grow the order book which, at GBP11 billion, provides us with good multi-year visibility.
"The second half of the financial year has started well, and we are trading in-line with the board's expectations. The group is confident in sustaining the strong cash generation achieved over the last few years and is well positioned to continue benefiting from UK government infrastructure spending commitments."
By Christopher Ward, Alliance News reporter
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