PROPERTY and construction company Kier Group has reported underlying profits of £150m, boosted by the integration of the Mouchel business.
Preliminary results for the year to June 30 show revenue is up 26% to £4.2bn – up 8% on a like-for-like basis – and its order book amounts to £8.7bn.
The company says its profits have been boosted by its integration with the Mouchel business which it acquired recently at a cost of £15.5m.
Chief executive Haydn Mursell said the results reflected “the evolution of the group” during the year following the completion of the integration of Mouchel.
He said: “The group continues to perform well in growing market sectors including infrastructure, housing and regional building, providing a breadth of capabilities to our clients.
“For the first time, 50% of group profit now comes from our services division where essential day-to-day services are provided to clients and we have long-term visibility of our future pipeline of work.”
Kier’s projects in the region include Goodman’s £12m Eastside Locks development in Birmingham, building around 300 homes in a £40m mixed tenure housing scheme in Kings Norton, and the new national transport design centre for Coventry University.
Click here to sign up to receive our new South West business news...
