Shares up 55p as construction and services group announce yearly profit of 拢80m
Kier Group has announced a pre-tax profit rise of 30.5% after strong growth in all its divisions.
The construction and services group said profit rose from 拢61m to 拢79.6m in the year to 30 June 2007, while turnover increased from 拢1,838.3m to 拢2,127.9m.
At 10.10am this morning Kier share prices had jumped 55p to 1,975p, a rise of 2.86%.
Kier chief executive John Dodds said strong growth had been seen in all divisions and the group was in 鈥済reat shape鈥�.
He said: 鈥淲ith its strong markets, a sound business infrastructure and talented management teams I have enormous confidence in the future prospects for Kier.鈥�
The construction division reported an increase in turnover from 拢1,218.1m to 拢1,411.2m, a 15.9% rise, while support and services saw a 12.2% rise in turnover, with revenues up from 拢281.3m to 拢315.5m.
The group said construction and support services order books were at record levels of 拢3.5bn, up from 拢2.9bn in 2006.
It predicted continued growth in the current financial year.
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