Regional arm drives Kier forward

Kier produced "another excellent set of results" in the six months to 31 December as pre-tax profit increased 19.8% (before exceptionals) to £28.4m. Turnover was up 19.8% to £922.6m.

The construction arm enjoyed a 15.1% increase in turnover to £603.7m, largely driven by growth in the regional contracting business. Operating profit increased 41.4% to £8.2m, giving an increased operating margin of 1.4%. The order book stands at £1bn.

The support services arm produced a 22.1% boost in turnover to £139.1m, with operating profit moving forward from £3.2m to £3.9m.

The housebuilding division completed 709 units in the half at a higher average selling price of £185,900. Turnover and operating profit were both marginally ahead at £134.8m and £19.8m respectively.