Kier ‘back on track’ and eyeing UK highways growth

Kier Group has reported that its construction and services divisions are delivering consistently, four months after the group reported a £73m loss.

In July, the firm said the majority of its losses came from the closure of its Caribbean and Hong Kong businesses.

In a trading update, Kier said it was close to closing down both businesses.

Kier also highlighted its £147m, seven-year highways maintenance contract with Shropshire Council signed last month, which could be worth £210m over 10 years, and indicated that it hopes to expand in the UK highways market.

The statement read: ‘Our Highways England programme of works remains on track following the publication of the Highways England road improvement programme.

‘Moving forward, we believe we are well placed to benefit from new opportunities arising in the UK highways market.’

Kier also said that work was proceeding in line with expectations and that the group was on track to deliver its predicted ‘double digit’ profit growth in 2017.

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