Focus

Kier: The beginning of the end or the end of the beginning?

By 2019-09-25T05:00:00

mersey-gateway-bridge-shutterstock_1048505923

Source: Shutterstock

Comparisons with Carillion and Interserve only hardened when Kier posted a 拢245m pre-tax loss 鈥� but some see a good business that can rebuild

鈥淭he main gist of this is that the business is going to survive.鈥�

Stephen Rawlinson, analyst with Applied Value, is running the rule over last week鈥檚 numbers from Kier. They weren鈥檛 pretty. It racked up 拢341m of exceptional items which helped send it tumbling from a 拢106m pre-tax profit in 2018 to a 拢245m pre-tax loss this time around. Chief executive Andrew Davies admitted: 鈥淚t鈥檚 not a good set of results.鈥�

But Rawlinson鈥檚 comments chime with most analysts鈥� thinking: that while the numbers are bloody, it could have been worse.

Read more鈥�

This is PREMIUM content, available to subscribers only

You are not currently logged in. Subscribers may LOGIN here.

to access this story

Gated access promo


A subscription will provide access to the latest industry news, expert analysis & comment from industry leaders,  data and research - including our popular annual league tables. You will receive:

  • Print/digital issues delivered to your door/inbox
  • Unlimited access to building.co.uk including our archive
  • Print/digital supplements
  • 好色先生TVletters - unlimited access to the stories behind the headlines

now 

 

Get access to premium content