Kier Group sees full year in line with expectations
Kier Group
151.20p
16:45 18/11/24
-0.66%
-1.00p
Property construction and services group Kier said it expected full year underlying profits to be in line with expectations.
Construction & Materials
12,196.53
17:09 18/11/24
-1.18%
-145.68
FTSE 250
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17:09 18/11/24
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FTSE 350
4,473.50
17:09 18/11/24
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FTSE All-Share
4,431.13
16:49 18/11/24
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The company added that the financial impact of its portfolio simplification programme together with other non-underlying items would result in a non-underlying charge of around £73m.
It had also generated net cash of £69m, the “significant” majority of which has been, or will be, invested in its property and residential divisions.
Net debt was anticipated to be £150m, at the lower-end of market forecasts, Kier said, adding that it was well-placed for 2018, with growing order books of approximately £9bn and 85% secured revenue position.