Strong performances across the Group don’t stop here, says chairman.
Kier Group has recorded its 13th successive year of profit growth, with pre-tax profits for the year ending 30 June 2005 up 39.8% to £60.4 m. In its first set of full-year results under chairman Peter Warry, Kier saw growth across all divisions, with construction and Support Services order books at record levels. It says it has generated £86.4 m of cash from its operating services, while turnover grew by 9.8% to £1.62 bn in the 12-month period.
In his statement, Warry said: “I am pleased that we have continued the pattern that was established under Colin Busby's stewardship with yet another record level of turnover and profit for the year, the 13th successive year of profits growth.”
He added that the group was entering the new year with record levels of work in hand in Construction and Support Services and a satisfactory order book in Homes, and that he anticipated further profitable growth in the current year.
John Dodds, Kier chief executive echoed the chairman, saying: “Ours is a long-term business with firm foundations in place and I am confident that the Group will continue to deliver further growth in 2006 and beyond.”
The group also announced two changes to the board today: Michael Paul Sheffield, deputy managing director of Kier Regional, and Ian Lawson, managing director of Kier Support Services, will be appointed executive directors of the group from 1 October 2005.
Turning his attention to the new appointments, Warry said: “I am looking forward to working with Paul and Ian and am confident that they will contribute significantly to the Board and to the future direction of the Group.'