Contractor Kier confident UK’s infrastructure commitments will deliver more work​

The news came as Kier announced its financial results for the year to 31 December 2024.​

Kier’s revenue increased 5% over the period to just under £2 billion (€2.4 billion), while its adjusted pre-tax profit was £50.6 million (€60.1 million).​

Some 91% of Kier’s contracts are with the public sector and regulated companies, which it said helped to insulate it from political and economic uncertainties.​

It said that it expected population growth, transportation pressures, aged infrastructure, energy security and climate change to drive structural growth in the markets in which it operates.​

Over the course of 2024, the business won a series of contracts including: a place on Yorkshire Water’s £850 million (€1 billion) AMP8 complex non-infrastructure works framework to support investment in water processing and waste networks; a contract with the Scottish government to build the HMP Glasgow prison, worth £684 million (€812.1 million); and a place on the £814 million (€966.2 million) facilities management framework by Pagabo to provide services to public sector organisations in education, healthcare and local authorities.​

The company said it is working on around 400 projects at any given time, while the average order size in its construction business is £21 million (€24.9 million), which it said limited its risk exposure if a project went wrong.​

Kier chief executive Andrew Davies said, “The second half of the financial year has started well, and we are trading in line with the board’s expectations. The group is confident in sustaining the strong cash generation achieved over the last few years and is well positioned to continue benefiting from UK government infrastructure spending commitments. Kier operates in markets which are vital to the UK.”