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Kier Group Plc H1 Adj. Pretax Profit Declines - Quick Facts

Kier Group plc (KIE.L) reported profit before tax of 9.0 million pounds for the six months ended 31 December 2020 compared to a loss of 41.2 million pounds, prior year. Profit per share from continuing operations was 4.8 pence compared to a loss of 22.1 pence. Adjusted profit before tax declined to 27.8 million pounds from 30.7 million pounds. Adjusted earnings per share was 13.0 pence compared to 15.0 pence.

First half Group revenue declined to 1.62 billion pounds from 1.82 billion pounds, last year. Adjusted revenue declined to 1.62 billion pounds from 1.87 billion pounds.

The Group expects actions taken to right size the group as part of the turnaround strategy will result in continued improved financial performance. For the medium term, the Group targets: revenue of 4.0 billion pounds to 4.5 billion pounds, and adjusted operating profit margin of approximately 3.5%.

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