Kier sees trading in line with expectations

Kier’s order book at the end of September stood at £9.8bn and was 90% secured for the year to June 30.

In a trading statement ahead of its annual shareholder meeting, the company added that it was confident of achieving medium-term targets for £4bn-4.5bn and an adjusted operating profit margin of around 90%.

"The group remains well positioned to continue benefiting from UK government infrastructure spending commitments and remains focused on the delivery of a sustainable net cash position and a sustainable dividend, in line with our medium-term value creation plan," said chief executive Andrew Davies.

Reporting by Frank Prenesti for Sharecast.com