Kier Group is already working with a number of clients preparing for the AMP7 bidding cycle, according to its interim results for the six months to 31 December 2016.
The Group has announced what it describes as “solid half-year results”, underpinned by a strong performance in the Construction division, which posted record revenues of over £1 billion.
Kier Group plc has announced what it describes as “solid half-year results”, underpinned by a strong performance in the Construction division, which posted record revenues of over £1 billion.
Group financial highlights during the period include an underlying operating profit of £56.5 million, 4% organic growth on 2015.
The Construction division delivered an underlying operating profit of £20.8 million, up 19% on 2015, on a record revenue of over £1 billion.
Following the disposal of Mouchel Consulting in October 2016, which generated a profit on sale of £39 million, Kier said it has continued to streamline the Group’s activities to focus on its market leading positions.
In the Services division, which comprises infrastructure services (highways and utilities), property services and environmental services, Kier said that following the AMP6 awards in the water sector, its Thames Water and Anglian Water contracts are progressing well. Contract extensions totalling £125 million were awarded by Scottish Water Waste Water Alliance and Bournemouth Water.
Kier said that with population growth in locations near London, new opportunities are now coming to market, including a new £24 million four-year contract for trunk mains work on the Affinity Water Mains framework which was awarded in summer 2016. The Group is continuing to pursue growth in the utilities sector, saying “there are additional opportunities outside of the frameworks now coming to the market as well as extensions to existing contracts. “
Kier is already working with a number of clients preparing for the AMP7 bidding cycle.
The Group said the Services division is continuing to perform well with an order book of £5.6 billion, demonstrating the scale and strength of the division, and providing good visibility for 2017, as well as over the longer term. The order book of £8.9 billion grew 5%, adjusting for the sale of Mouchel Consulting.
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