Peter Warry will be succeeded by director Phil White at the end of the year

Kier chairman Peter Warry has announced his retirement from the board, as the group announced a confident trading update.

Warry, who was appointed chairman in November 2004, will step down from his position at the end of the year. He will be succeeded by senior independent director Phil White.

At the company’s AGM, chief executive John Dodds said the group had made a strong start to the financial year and expected trading to meet full year targets.

Weaker demand in the group’s homes division was being offset by strong performances from the construction and support services arms, he said.

Kier Regional reported a record level of revenue in the first quarter, while the group expects good revenues from support services “over the next five to ten years”.