Contractor says deal will contribute £16m to 2008 profit

John Dodds
Kier chief executive John Dodds

Kier has sold its 50% PFI stake in Hairmyres Hospital in East Kilbride to Innisfree M & G PPP Fund for £13.8m in cash.

Innisfree was Kier's investment partner on the project, which reached financial close in March 1998, and now holds 100% of the investment.

The deal will contribute about £16m to profit in the six months to 30 June 2008.