28th Nov 2005 07:02
Kier Group PLC28 November 2005 28th November 2005 KIER GROUP plc AGM STATEMENT Kier Group plc, the major construction, support services, housebuilding andproperty group, held its Annual General Meeting at the Group's head office atSandy, Bedfordshire on Saturday, 26 November 2005 at 11.00am. Commenting to shareholders on the excellent results achieved by Kier Group plcin its financial year to 30 June 2005, John Dodds, Chief Executive, said thatprospects in Kier's markets were good and that the Group had made a strong startto the new financial year. He made the following comments: "Our Construction businesses have continued their strong performance in thefirst quarter of the year. Cash generation has remained good since the financialyear-end with month end balances exceeding those at 30 June 2005. Order bookscontinue at healthy levels and there remains a strong pipeline of opportunitiessupporting our expectations for further growth in turnover this year. "In Support Services a lengthy bid list is being actively pursued in the localauthority building maintenance sector which will help us to continue to achieveour challenging growth targets. "Our Housebuilding business is selling from 18% more outlets than last year.Demand for our homes has improved and visitor levels are ahead. Our unitcompletions and current forward order book, together, are 12% ahead of lastyear, securing around 70% of our projected unit sales for the current year andconfirming the position for the half year. "Good opportunities are being pursued in Property and we have recently receivedapproval for a new distribution complex at Western International Markets nearHeathrow Airport. "Our business which invests in the Private Finance Initiative ('PFI') continuesits success with its recent appointment as preferred bidder on the OldhamSchools project, our fifth education win in PFI. Our Construction business willcarry out the construction of the £51m project with Kier Managed Services asservice provider over the 25 year term. "Kier's businesses are in good shape and all of our markets are sound. Webelieve that prospects are good for further growth this year and beyond." Ends For more information, please contact: John Dodds, Chief ExecutiveDeena Mattar, Finance DirectorKier Group plc Tel: 01767 640111 Caroline SturdyMadano Partnership Tel: 020 7378 7033 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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