News on 21 September 2000
Kier Group plc has announced a continued increase in profits
and earnings for the eighth consecutive year. In the results for the year
ended 30 June, total turnover was up by 7.5%, to £1,035, and operating
profits increased by 23.8%, to £15.6m. At £17.7m, pre-tax
profits were up by 28.3% earnings per share increased by 25.2% to 28.3p.
Strong cash flow supported further increased investment in land and development
work-in-progress, with balance sheet liquidity of around £40m and
total net assets increased by 32.8% to £44.5m.
Chairman Colin Busby said: "In both our business segments, Construction
& Services and Homes & Property, operating profits and operating
margins have each increased, indicating that our businesses are improving
in quality as well as in quantity. We continue to seek further improvements
and are developing our support services and project investment sectors
so that these too will become more significant contributors to future
profit growth, to which we are strongly committed."
