Kier posts healthy annual results

The contractor and developer with 1,000 staff across four offices in the North West said the region contributed strongly to turnover of £3.4bn, up 14%, in the year ending 30 June.

Pre-tax profit for the year was £85.9m, up 17% on the year before, before exceptional costs which included £31.6m relating to the closure of the Kier Group pension scheme, the sale of F&PS and the transaction and integration costs relating to the acquisition of Mouchel.

North West contract wins include the £475m job to turn the M6 between junctions 16 and 19 into a smart motorway in a joint venture with Carillion. Kier is also one of the construction partners on the £450m Mersey Gateway project, which involves the construction of a six-lane toll bridge over the River Mersey, linking Runcorn and Widnes. Kier is also on site delivering the new £24.9m interchange in Bolton for Transport for Greater Manchester, and the £20m Mental Health Unit for the Five Boroughs Partnership NHS Trust. In addition, it was recently awarded contracts worth £3.6m for the extension of the St Cleopas and Christ the King primary schools, as part of the first phase of Liverpool City Council’s primary school expansion programme. This is the latest in a series of projects Kier has delivered in Liverpool through the Scape Minor Works Framework, with contracts awarded worth £12m. It is also preferred bidder for the £5.5m project to refurbish and extend the Liverpool Institute of Performing Arts.

Shares in Kier fell 5% to £13.99.

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