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Slimmed down Kier breathes more easily

Sale of Kier Living and equity raise bolster balance sheet
Slimmed down Kier breathes more easily
  • Adjusted margins improve as company targets more profitable work
  • Medium-term plan seeks to revive revenue to £4bn-£4.5bn

Kier Group (KIE) looks to be in better shape after an exercise which has seen it shed debt and beef up its balance sheet through its second equity raise in three years.

The company had been jolted into action prior to the pandemic, after a financial health scare following an accounting mishap led to its debt pile being £50m higher than anticipated. This came just months after shareholders largely shunned a £250m capital raise.

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