Kier sees trading in line with expectations
Kier Group
71.40p
16:45 26/01/23
Construction and infrastructure group Kier said trading in the new fiscal year had started well, with performance in line with expectations.
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Kier’s order book at the end of September stood at £9.8bn and was 90% secured for the year to June 30.
In a trading statement ahead of its annual shareholder meeting, the company added that it was confident of achieving medium-term targets for £4bn-4.5bn and an adjusted operating profit margin of around 90%.
"The group remains well positioned to continue benefiting from UK government infrastructure spending commitments and remains focused on the delivery of a sustainable net cash position and a sustainable dividend, in line with our medium-term value creation plan," said chief executive Andrew Davies.
Reporting by Frank Prenesti for Sharecast.com