Kier Group PLC Trading Update and Capital Markets Event (5103M)
24 May 2022 - 4:00PM
UK Regulatory
TIDMKIE
RNS Number : 5103M
Kier Group PLC
24 May 2022
24 May 2022
Kier Group plc
Trading Update and Capital Markets Event
Kier Group plc ("Kier" or "the Group"), a leading UK
infrastructure and construction services group issues a trading
update for the period to 30 April 2022 ahead of holding a Capital
Markets Event for analysts and institutional investors on 25 May
2022.
Trading
Kier performed well in the period 1 January to 30 April 2022,
despite the continuing inflationary pressure. The Group continues
to trade in-line with the Board's expectations.
Order Book
Kier continues to win new, high quality and profitable work in
its markets on terms and at rates which reflect the bidding
discipline and risk management introduced under the Group's
Performance Excellence programme.
We remain focused on winning work through our long-standing
client relationships and regionally based operations.
As at 31 March 2022, the Group's order book was c.GBP8.5bn, an
increase of c.6% from the 31 December 2021 position of
GBP8.0bn.
The order book continues to be underpinned by significant
long-term framework agreements.
Recent awards include:
-- Infrastructure Services - awarded an early works contract by
South West water on a GBP75m improvement project at Alderney Water
Treatment Works
-- Construction - awarded a place on the GBP30bn Procure23
Framework to provide health care projects to the NHS in England and
other public bodies
-- Property - selected as a partner by Mole Valley District
Council on the GBP350m urban regeneration of Leatherhead town
centre in Surrey
Capital Markets Event
The Capital Markets Event will focus on the capabilities of the
Group to deliver its medium term value creation plan.
The event will be hosted by Chief Executive, Andrew Davies and
Chief Financial Officer, Simon Kesterton and will include
presentations and activities with Managing Directors from our
business units and other senior colleagues.
The event presentation and recording will be made available on
Kier's website.
Medium Term Value Creation Plan
The Group remains confident in achieving its medium term targets
of:
Revenue: GBP4.0 - 4.5bn
Adjusted operating profit c. 3.5%
margin:
Cash conversion of operating c. 90%
profit:
Balance sheet: Sustainable net cash position with capacity
to invest
Dividend: Sustainable dividend policy: c.3 x cover
through the cycle
- ENDS -
For further information, please contact:
+44 (0)7933 388
Investor Relations 746
+44 (0)1767 355
Kier Press Office 096
+44 (0)203 727
Richard Mountain, FTI Consulting 1340
About Kier Group plc
Kier is a leading UK infrastructure and construction services
group. We provide specialist design and build capabilities and the
knowledge, skills and intellectual capital of our people to ensure
we are able to project manage and integrate all aspects of a
project.
This announcement does not constitute an offer of securities by
Kier Group plc (the "Company"). Nothing in this announcement is
intended to be, or intended to be construed as, a profit forecast
or a guide as to the performance, financial or otherwise, of the
Company or any of its subsidiaries (together, the "Group") whether
in the current or any future financial year. This announcement may
include statements that are, or may be deemed to be,
"forward-looking statements". By their nature, forward-looking
statements involve risks and uncertainties because they relate to
events and depend on circumstances that may or may not occur in the
future and may be beyond the Company's or the Group's ability to
control or predict. Forward-looking statements are not guarantees
of future performance. You are advised to read the section headed
"Principal risks and uncertainties" in the Company's Annual Report
and Accounts for the year ended 30 June 2021 for a further
discussion of the factors that could affect the Company's or the
Group's future performance and the industry in which it operates.
Other than in accordance with its legal or regulatory obligations,
the Company does not accept any obligation to update or revise
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise.
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