Kier’s trading performance has picked up in the second half of the year, the firm has revealed.
In an update to investors on Thursday (14 November), the contractor said wins to 15 frameworks had secured work worth up to £13.5bn.
The firm, ranked third in this year’s CN100, added that its full-year results into 2025 would be “second-half weighted”, repeating the previous year’s trend.
Its statement, covering 1 July 2024 to date, was published ahead of its AGM.
The update also revealed that Kier’s order book currently stands at around £10.9bn (30 June 2024: £10.8bn). It also said that 95 per cent of group revenue for 2025 was now secured.
Its full-year results to June 2024 included revenue of £3.9bn and a pre-tax profit of £68.1m.
The new government’s push to increase infrastructure and housing work was highlighted as a factor in its 2025 forecasts.
Kier chief executive Andrew Davies said: “The current financial year has started well and we are trading in line with our expectations. We are well positioned to benefit from UK government infrastructure spending plans into areas where Kier offers market leading services.”
The update follows a run of contract wins announced this year. Kier revealed it was among winners on £3.7bn Wessex Water framework. And last month it landed the £100m contract to replace hangars, office buildings and a training school at Royal Naval Air Station Culdrose.
The main areas driving current performance are infrastructure services, nuclear and utilities. Fire safety remediation work is also a strong source of revenue for the firm.
Government plans to create more prison places was also cited as among future opportunities for Kier.
Davies said: “These strong structural drivers and further investments will allow us to further generate shareholder returns.”
