Kier announces strong half-year trading

Kier has described business for the year ended 30 June as "busy and successful" in a trading statement released today (Thursday).

With a full order book valued at £54m, the company said that its success had enabled a steady growth in UK turnover allowing the company to remain selective.

Its overseas business had also performed strongly in the second half of the year benefiting from the prudence applied in providing for losses in previous years.

Demands in its housing division has remained strong with an increase of legal completions standing at 877 compared to 733 the year before.

The company added that the acquisition of Allison Homes in September had contributed to the 170% rise in orders compared to last year.

Following its investment in a joint venture to acquire shares in Laing Property Developments in April, the company said that "good progress" was being made in advancing development opportunities contained within the portfolio.