East Midlands projects contribute to Kier success
Kier Group, the property, residential, construction and services group, which employs over 500 people in the East Midlands from its offices in Nottingham, Northampton, Rushden and Corby, has announced strong interim results for the half year ending 30th December 2015.
Revenues were up 32 per cent to £2.1bn, and although profit before tax was down from £27.8m in 2014 to £18m this included non-underlying costs of £15.5m relating to the integration of Mouchel.
The business is responsible for a number of projects in the region, including the delivery of six schools through the £46m Priority Schools Nottingham framework. It is currently on site building the new £30m David Ross Sports Centre for the University of Nottingham, and is preferred bidder to deliver the £17m Child and Adolescent Mental Health Service unit for Nottinghamshire Healthcare NHS Trust.
Working with the Homes & Communities Agency and Nottingham Community Housing Partnership, Kier is delivering the £100m Manor Kingsway housing development to provide 700 much-needed new homes across Nottingham and Derby.
In addition, Kier Services, in partnership with Northamptonshire County Council and WSP, maintains the public highways network across the county.
Haydn Mursell, chief executive, said: “I am pleased to announce a good set of interim results which show the continued strength and breadth of the Group’s capabilities and our presence in growing market sectors. The Group remains on course to deliver expectations for the full-year.
“In the UK, our core markets are improving which provides a platform for growth, particularly for our property, residential and regional building businesses, and over the medium-term for our infrastructure businesses. Mouchel has been substantially integrated and is performing well. Our presence in infrastructure services, regional building and housing aligns to growth markets with high visibility of forward pipelines and now accounts for 75% of the Group’s turnover.
“We are encouraged by the robust pipelines in Property and Residential and the order books totalling £9bn in Construction and Services. We remain focused on ensuring that the Group is fit for growth by continuing to focus on our operational efficiency and continuing to manage risk closely. This discipline, combined with the resilience and flexibility provided by the portfolio of businesses in the Group, will continue to underpin our performance. We look forward to the future with confidence.”
