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Kier turnover up 9pc

Kier boosted turnover by 9 per cent in the final six months of 2010 compared to the same period a year ago as it began to rebalance its portfolio to increase focus on private sector contracts.

In the six months to 31 December 2010, 63 per cent of the firm’s awards were for public sector contracts, compared to 75 per cent for the same period in 2009.

The education sector continued to be its primary source of work, accounting for 34 per cent of contract awards for the period.

Kier chief executive Paul Sheffield said the power, infrastructure, commercial, mixed-use regeneration and overseas markets were growing sources of opportunities for the contractor.

Speaking to Construction News, Mr Sheffield said “ultra-competitive, margin-slashing contracts” only accounted for around 20 per cent of the firm’s work and the ability to secure long term frameworks continues to be a particular strength.

Through the order books, the firm has secured targeted revenue for 2011 and 65 per cent of the target for 2012.

Mr Sheffield added that encouraging signs were appearing in the UK commercial market, particularly in London and the South-east, but beginning to extend along the M4 corridor.

Readers' comments (1)

  • Peter L Masters MCIM

    More good news for the construction sector, maybe things are getting better at long last. I anticipated regeneration to lead the way last September and it looks very likely to happen. Nice work Kier!

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