In a trading update ahead of the company’s annual general meeting, the Kier board reported all round good progress.
The Property division is performing well, delivering a return on capital in excess of 20% on an increasing capital base. The mixed tenure and private housebuilding businesses continue to make good progress. Both the construction division and the services division had booked more than 95% of their targeted revenue for the financial year (ending June 2018). And the recently acquired McNicholas business was performing well, with good progress made with its integration.
In the year to 30th June 2017 Kier Group reported a pre-tax profit of £25.8m on revenue up 5% to £4.27bn. The previous year it lost £15m before tax.