Construction and waste services group Kier reports strong performance as turnover rises
©2016 Chris Biele
Construction and waste services group Kier has announced a 5% rise in turnover with a strong performance in its East Anglian division.
The company, which has sites across Norfolk and in Witham, Essex, saw revenue grow to £4.27bn for the year to June 30, up from £4.08bn the year before, with pre-tax profit rising by £10m to £126m.
The business, which employs over 150 people across the region, provides waste and recycling collection services to more than 100,000 properties across North Norfolk and Kings Lynn.
It also recently completed the £13m Highflyers Primary School in the Isle of Ely and the £6m Wherry School in Norwich – purpose built for children with autism.
Kier has also secured a £50m highways maintenance contract for East Anglia and signed a £270m five-year extension deal with Suffolk Highways.
Haydn Mursell, chief executive, said: “Our underlying performance for the year was good. Having simplified our portfolio, the Group is more focused and able to pursue its growth ambitions in our three core markets; building, infrastructure and housing, which now represent 90% of the Group’s revenue and profit.
“We continue to invest in the business to improve our operational efficiency, providing a robust platform on which to take advantage of the strong long-term fundamentals in these core markets.
“Our Construction and Services order books of £9.5bn, together with our circa £2bn property development and residential pipelines, provide good long-term visibility of our future work.
“This visibility, coupled with our healthy balance sheet, provides us with confidence of achieving our Vision 2020 strategic targets.”
In his report Mr Mursell said in light of the Grenfell Tower fire the construction division was reviewing if similar types of cladding had been used in any of its projects or on clients estates where the business provided other services.
Kier confirmed in May it was to move its Norwich construction business from its Trowse offices, which formerly belonged to May Gurney before Kier bought the firm in 2013.
The group also has offices in Mile Cross, Norwich, and Aylsham.