Full order book at Kier as profit jumps 28%

Kier has reported a 27.5% leap in pre-tax profit for the first half, boosted by strong performances in its property and support services divisions.

Kier posted pre-tax profit of £36.2m for the six months to 31 December 2006, up from £28.4m in the corresponding period in 2005. Turnover rose 11% to £1020.5m over the period.

Chief executive John Dodds said that the group was continuing to benefit from public sector spending in construction and support services, demand for housing and investors’ appetite for good quality property.

He said: “The prospects for Kier Group are excellent. There continues to be ample opportunity in all of the markets in which we operate, our order books are full, our balance sheet is strong and we have very capable management teams in place. All of this leads me to anticipate further profitable growth.”