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Contractor Kier confident UK鈥檚 infrastructure commitments will deliver more work鈥�
11 March 2025
Image: Billy McCrorie via Wikimedia Commons (Creative Commons Attribution-ShareAlike 2.0 license)
UK-based contractor Kier saw its order book increase 2% to a record 拢11 billion (鈧�13.1 billion) and its chief executive is confident that the government鈥檚 commitment to infrastructure projects will provide strong levels of future work.鈥�
The news came as Kier announced its financial results for the year to 31 December 2024.鈥�
Kier鈥檚 revenue increased 5% over the period to just under 拢2 billion (鈧�2.4 billion), while its adjusted pre-tax profit was 拢50.6 million (鈧�60.1 million).鈥�
Some 91% of Kier鈥檚 contracts are with the public sector and regulated companies, which it said helped to insulate it from political and economic uncertainties.鈥�
It said that it expected population growth, transportation pressures, aged infrastructure, energy security and climate change to drive structural growth in the markets in which it operates.鈥�
Over the course of 2024, the business won a series of contracts including: a place on Yorkshire Water鈥檚 拢850 million (鈧�1 billion) AMP8 complex non-infrastructure works framework to support investment in water processing and waste networks; a contract with the Scottish government to build the HMP Glasgow prison, worth 拢684 million (鈧�812.1 million); and a place on the 拢814 million (鈧�966.2 million) facilities management framework by Pagabo to provide services to public sector organisations in education, healthcare and local authorities.鈥�
The company said it is working on around 400 projects at any given time, while the average order size in its construction business is 拢21 million (鈧�24.9 million), which it said limited its risk exposure if a project went wrong.鈥�
Kier chief executive Andrew Davies said, 鈥淭he second half of the financial year has started well, and we are trading in line with the board鈥檚 expectations. The group is confident in sustaining the strong cash generation achieved over the last few years and is well positioned to continue benefiting from UK government infrastructure spending commitments. Kier operates in markets which are vital to the UK.鈥�
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