Kier Group Sees FY Results To Be In-line With Board's View

Kier Group plc (KIE.L), on Tuesday, issued trading update for the year ended 30 June 2022, and said it expects full-year results to be in-line with the Board's expectations, reflecting a strong operational performance despite inflationary pressure, which the company remains confident it can continue to mitigate going forward.

These results also reflect the cost savings realised in responding to the anticipated reduced volumes in the Construction division during the financial year.

Despite political and economic uncertainties, core markets remain favourable. The year-end order book is expected to be in excess of £9.7 billion, a significant increase of about 26% against the prior year, reflecting a significant number of contract wins across all divisions.

Andrew Davies, Chief Executive Officer of Kier Group plc, said, "Kier delivered a strong operational performance over the last year, despite inflation and political uncertainties. Core markets remain favourable and we continue to maximise value and opportunities. This, coupled with the strong order book and strengthened balance sheet, gives the Board confidence in our medium-term value creation plan and the continued success of the Group."

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