{"id":833389,"date":"2025-03-12T08:11:57","date_gmt":"2025-03-12T13:11:57","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/12\/significant-progress-as-kier-grows-revenue-and-profit\/"},"modified":"2025-03-12T08:11:57","modified_gmt":"2025-03-12T13:11:57","slug":"significant-progress-as-kier-grows-revenue-and-profit","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/12\/significant-progress-as-kier-grows-revenue-and-profit\/","title":{"rendered":"\u2018Significant progress\u2019 as Kier grows revenue and profit"},"content":{"rendered":"
\n

\"Kier<\/p>\n

Kier chief executive Andrew Davies<\/p>\n

\n

Kier chief executive Andrew Davies hailed \u201csignificant operational and financial progress\u201d after the tier one contractor posted increased revenue and profit in its interim results.<\/p>\n

The Salford-headquartered contractor revealed turnover of \u00a31.97bn for the six months to 31 December 2024.<\/p>\n

This was up 6 per cent from the same period a year earlier, while pre-tax profit grew by the same proportion to \u00a328.6m.<\/p>\n

Kier<\/a> said this morning (11 March) that its net cash position soared from \u00a317m in the second half of 2023 to almost \u00a358m in the second half of 2024.<\/p>\n

It added that it had secured 98 per cent of its revenue for the current full-year period.<\/p>\n

Kier\u2019s order book by 31 December stood at \u00a311bn.<\/p>\n

The contractor announced a \u00a320m share buyback scheme at the start of this year<\/a>, and today it proposed a 20 per cent hike in its interim dividend to 2p per share.<\/p>\n

Davies said: \u201cThe group has continued to make significant operational and financial progress.<\/p>\n

\u201cThe first half saw Kier deliver increased revenue and profitable growth while maintaining strong margins. We continued to grow the order book which, at \u00a311bn, provides us with good multi-year visibility.<\/p>\n

\u201cOur strong cash performance allowed us to significantly increase the interim dividend payment and commence an initial \u00a320m share buyback programme in January 2025.\u201d<\/p>\n

Kier also reduced its average month-end net debt from \u00a3137m to \u00a338m in the second half of last year.<\/p>\n

Davies said the second half of Kier\u2019s financial year had \u201cstarted well\u201d and the company was trading in line with the board\u2019s expectations.<\/p>\n

\u201cThe group is confident in sustaining the strong cash generation achieved over the past few years and is well positioned to continue benefiting from UK Government infrastructure spending commitments,\u201d he added.<\/p>\n

Since the period covered by the interim accounts, Kier has been appointed to an \u00a3850m utilities framework<\/a> in Yorkshire and won a \u00a3117.7m army accommodation job<\/a> under the \u00a35bn Defence Estate Optimisation initiative.<\/p>\n

Data from intelligence provider Glenigan also showed that the contractor surged to the top of the February contract league table<\/a> after bagging two prison jobs worth a combined \u00a3800m.<\/p>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Greg Pitcher<\/p>\n","protected":false},"excerpt":{"rendered":"

Kier chief executive Andrew Davies Kier chief executive Andrew Davies hailed \u201csignificant operational and financial progress\u201d after the tier one contractor posted increased revenue and profit in its interim results. The Salford-headquartered contractor revealed turnover of \u00a31.97bn for the six months to 31 December 2024. This was up 6 per cent from the same period<\/p>\n","protected":false},"author":1,"featured_media":833390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24026,28056],"tags":[],"class_list":{"0":"post-833389","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-progress","8":"category-significant"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=833389"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/833389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/833390"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=833389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=833389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=833389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}