Maintenance services, property and construction group Kier (KIE) delivered a resilient full-year performance, although poor weather and restructuring costs in the UK construction business pulled headline profits lower. Underlying pre-tax profit fell, too, but by a more modest 9 per cent to £63.4m.
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Still, the construction division's targeted revenue for next year, and 95 per cent of the services division's targeted revenue, is already secured and probable. What's more, new contract wins have maintained the forward order book at a healthy £4bn - add in July's acquisition of May Gurney and that rises to £5.9bn.