Kier: The beginning of the end or the end of the beginning?

mersey-gateway-bridge-shutterstock_1048505923

Comparisons with Carillion and Interserve only hardened when Kier posted a £245m pre-tax loss — but some see a good business that can rebuild

“The main gist of this is that the business is going to survive.”

Stephen Rawlinson, analyst with Applied Value, is running the rule over last week’s numbers from Kier. They weren’t pretty. It racked up £341m of exceptional items which helped send it tumbling from a £106m pre-tax profit in 2018 to a £245m pre-tax loss this time around. Chief executive Andrew Davies admitted: “It’s not a good set of results.”

But Rawlinson’s comments chime with most analysts’ thinking: that while the numbers are bloody, it could have been worse.

Read more…

This is PREMIUM content, available to subscribers only

You are not currently logged in. Subscribers may LOGIN here.

SUBSCRIBE to access this story

Gated access promo

SUBSCRIBE for UNLIMITED access to news and premium content

A subscription will provide access to the latest industry news, expert analysis & comment from industry leaders,  data and research - including our popular annual league tables. You will receive:

  • Print/digital issues delivered to your door/inbox
  • Unlimited access to building.co.uk including our archive
  • Print/digital supplements
  • Newsletters - unlimited access to the stories behind the headlines

Subscribe now 

 

Get access to premium content subscribe today