Kier Group Sees FY Results To Be Moderately Ahead Of Board's View

Kier Group plc (KIE.L), on Tuesday, announced that trading since the announcement of its half year results continued to be resilient. Further, the company said it expects full year results to be moderately ahead of the Board's expectations, reflecting strong operational performance.

The Group also expects to deliver a full year 2021 adjusted operating profit margin of about 3%. In addition, the company said it is "confident that it now has the platform to achieve its medium-term targets" of: Revenue in the range of £4.0 billion - £4.5 billion, adjusted operating profit margin of about 3.5%, and cash conversion of operating profit of about 90%.

With cash generation continuing to be strong, the company anticipates reporting a net debt / cash position at the year end, better than the Board's previous expectations.

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