Kier Group hails "strong quarter" and celebrates recent pact wins

Kier Group PLC on Thursday said it has made a positive start to its financial year, with trading in line with expectations and it hailed recent contract wins.

The Salford, England-based infrastructure services, construction and property group said its order book stood at £11.7 billion at the end of September, down from £11.9 billion in June following a "strong quarter of revenue growth". Its first quarter ran to the end of September.

"Infrastructure and Construction are converting pipeline opportunities into secured contracts, winning new business across the group's targeted growth sectors, supporting visibility of future activity," Kier said.

It expects its order book to grow by December as recent contract wins are added.

"Recent new contract wins underpin visibility for the remainder of FY27 and beyond, while consistently strong cash generation continues to strengthen the balance sheet," Chief Executive Officer Stuart Togwell said.

Kier said it remains on track against its annual expectations and enhanced medium-term financial targets, including average monthly net cash of more than £200 million by the end of its 2029 financial year.

In the year that ended June 30, pretax profit rose 7.3% to £83.8 million from £78.1 million. It reported statutory revenue of £4.35 billion for the financial year ended June 30, up 6.8% from £4.08 billion the prior year.

Kier Group closed down 1.8% at 324.00 pence each in London on Thursday.

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