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Kier Group revenue 3.4 billion pounds

Staff writer ▼ | September 17, 2015
Kier Group plc announced its results for the year ended 30 June 2015. Revenue of £3.4bn, up 14%, is reflecting strong organic growth in all divisions.
Kier Group
Kier Group plc   Strong organic growth in all divisions
Non-underlying charges of £31.6m on continuing operations (2014: £42.2m) relate to restructuring, transaction and integration costs in preparation for and following the acquisition of Mouchel, the closure of the Kier Group pension scheme, the sale of Fleet & Passenger Services ('F&PS') and in simplifying the portfolio, £22.9m on discontinued operations relating to the disposal of the UK mining business.

Mouchel synergies for 2016 on track to deliver £4m. Underlying earnings per share of 96.0p (2014: 87.5p5) were up 10%; and proposed full year dividend has been increased by 20% to £47.3m (2014: £39.4m).

Commenting on the results, Kier Group plc chief executive, Haydn Mursell said: "All our divisions have performed well. In Property, the market remains strong and we have ample support from funders and other investors. Following its expansion, our Residential division is well-placed to help address the national shortage of affordable housing.

"In Construction, the regional building business has an established position on public and private sector frameworks and our infrastructure business is benefiting from continued greater investment by the UK Government in infrastructure in the medium term and internationally, the Middle East pipeline is strengthening.

"Our Services division will benefit from the £700m AMP6 contracts secured during the year and the Mouchel acquisition has made Kier the sector leader in the UK highways management and maintenance sector. We are committed to offering a full, integrated approach to our clients by maximising the breadth and combination of capabilities available in the Group, assisting them to address the budget challenges they face."