Kier performs well YTD, trades in line with expectations

Construction services group Kier said on Tuesday that it had performed well in the four months ended 30 April, with the group continuing to trade in line with internal expectations despite ongoing inflationary pressures.

Kier stated it had continued to win new, high-quality and profitable work in its markets on terms and at rates that reflect bidding discipline and risk management efforts introduced under its "Performance Excellence" programme.

The London-listed firm said its order book was roughly £8.5bn, an increase of approximately 6% from 31 December, and noted it continued to be underpinned by significant long-term framework agreements.

Kier also noted that chief executive Andrew Davies and CFO Simon Kesterton will host the company's capital markets event on Wednesday, with the event set to focus on the capabilities of the group to deliver its medium-term value creation plan.

As of 0950 BST, Kier shares were down 0.39% at 76.10p.

Reporting by Iain Gilbert at Sharecast.com