Firm due to unveil annual results in middle of September

Kier said it made big inroads into cutting its debt last year, taking it down by nearly half to less than 拢220m.

In a trading update yesterday, the firm said average month-end net debt for the year to June had gone from 拢432m to below 拢220m following last year鈥檚 sale of housing business Kier Living and an equity raise.

Kier-in-construction-shutterstock_1246503580

Source: Shutterstock

Kier鈥檚 order book has topped 拢9.5bn

It added that it has paid the remaining money it owed to HMRC in VAT payments deferred because of the pandemic.

The firm, which is due to unveil its annual results on 15 September, said its order book was in excess of 拢9.7bn at the year end 鈥� a rise of a quarter.

Kier, which has recently been appointed by defence contractor Babcock to refurbish Devonport docks over the next decade along with Bam Nuttall, said the average time it takes to settle its bills had improved by one day to 33 days.

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