Kier reports solid results with North West projects key to pipeline

The property and infrastructure group has reported revenue of £2bn in its interim results for the six-month period to 31 December 2016, in line with expectations. Profit climbed by 4%, to £56.5m.

The construction division was the standout performer, increasing its operating profit by 19% to £20.8m as the group reported a strong pipeline of growth opportunities. Since last June’s EU referendum, Kier’s development business has bought six regional city centre sites, including two in Manchester.

Kier employs more than 300 people in Manchester and Liverpool, and is involved in several major projects in the region – in joint venture with Carillion, it is working to turn the M6 junctions 16 to 19 into a smart motorway in a project worth up to £475m. Kier is a construction partner on the £450m Mersey Gateway project.

In Manchester, the business is to locate its new financial shared service centre at 81 Fountain Street, creating 250 jobs in addition to Kier’s two existing offices in Queen Street and Trafford Park.

Kier also recently purchased Oddfellows House in central Manchester, which is to be rebranded as Eleven York Street, an 80,000 sq t grade A office building.

In Liverpool Kier was recently appointed with CTP to develop 400,000 sq ft of offices at Pall Mall Exchange. It is working with Liverpool City Council to deliver its £150m Schools Investment Programme and is on-site at the £15m Sensor City project.

Kier also has a logistics site in Winsford, while its infrastructure services division was last year awarded a 15-year highways contract in Cumbria.

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Hard work from ex employees has paid off. Wonder if it has been appreciated!

By ACynical

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