CONSTRUCTION group Kier increased revenues by £500m to £3.4bn on the back of confidence returning to its core markets.
The group, which employs more than 1,000 people across the region, increased underlying profits at a slightly faster rate, as they rose 17% to £85.9m in the year to June.
Kier has been active across the region, not least with the £1.0m acquisition of a number of assets and contracts from collapsed housing business, Southdale. It has enabled Kier’s residential division to extend its operations across the north of England.
Other regional projects that have contributed to the “very strong” results include the £25m redevelopment of Catterick Garrison town centre, the Sheffield North Active Leisure and Sports facility and, working with Bruntwood, the construction of the £30m development at 3 Sovereign Square in Leeds, that will be the new home for Addleshaw Goddard. Kier also opened its new 8,500 sq ft regional headquarters in Leeds earlier this year.
“All of our divisions have performed well,” said: Kier Group chief executive Haydn Mursell.
“We continue to simplify the portfolio and restructure our businesses and invest in our future growth. With a £9.3bn order book, a strong balance sheet and continued progress on our Vision 2020 goals this year, we look forward to the future with confidence.
“I am pleased to announce that we have delivered solid growth and increased profitability. Economic confidence is returning to our core markets and, furthermore, the acquisition of Mouchel represents a major step in accelerating the group’s five-year strategy.”
