NuGen Properties

Kier doubles profits and grow orders

Kier doubles profits and grow orders


Chief executive Andrew Davies

Kier Group results for the six months to 31st December 2022 show revenue stable at £1,537m (2021: £1,536m) but pre-tax profit doubled to £25.4m (2021: £12.7m).

The half-year revenue was broadly evenly spread across the group’s two main divisions, infrastructure services (£815.6m) and construction (£709.0m). The profit growth came from the construction division, where adjusted operating margin improved from 3.9% to 4.6%., Infrastructure’s adjusted operating margin dipped slightly from 4.2% last time to 4.1%.

While revenue growth was flat, there are signs of growth to come. The order book at 31st December 2022 was £10.1bn, up 26% against the prior year.

Chief executive Andrew Davies said: “The strong performance of the group over the last six months reflects our enhanced resilience and strengthened financial position. Our order book has increased significantly against the prior year, reflecting a large number of contract wins across our divisions and this provides us with good, multi-year revenue visibility. These awards reflect the bidding discipline and risk management now embedded in the business.

Looking ahead, we expect to generate positive operating cashflow for the full year and deliver a net cash position at the year-end. Current trading remains in line with the board’s expectations despite political and economic uncertainties. The group is well positioned to continue benefiting from UK government infrastructure spending commitments and focused on the delivery of a sustainable net cash position and a sustainable dividend, in line with our medium-term value creation plan.”

Got a story? Email [email protected]



Source link


Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Google
Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

Google
NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Google
Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Google
Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Google
Great firm to communicate with fast and good quality work.