Kier Group sees full year in line with expectations
Kier Group
127.40p
14:19 23/04/24
0.95%
1.20p
Property construction and services group Kier said it expected full year underlying profits to be in line with expectations.
Construction & Materials
9,831.94
14:19 23/04/24
0.41%
40.02
FTSE 250
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14:20 23/04/24
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FTSE 350
4,416.48
14:20 23/04/24
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FTSE All-Share
4,370.90
14:20 23/04/24
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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.