Kier Group (KIE)

Sector:

Construction and Building Materials

Index:

FTSE 250

131.60p
   
  • Change Today:
    -1.40p
  • 52 Week High: 143.00
  • 52 Week Low: 67.30
  • Currency: UK Pounds
  • Shares Issued: 446.45m
  • Volume: 931,051
  • Market Cap: £587.53m
  • RiskGrade: 260

Kier Group posts 'strong' full-year result

By Josh White

Date: Thursday 15 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Kier Group described a "strong" full-year financial performance on Thursday, despite ongoing inflationary pressures, as adjusted operating profit increased 20% to £121m.
The company said its margin for the 12 months ended 30 June was an "Industry leading" 3.7%, higher than its medium-term target of 3.5%.

Free cash flow conversion was 90%, following a reversal of its first-half working capital unwind, while net cash as at 30 June totalled £3m.

Kier said it had reduced its average month-end net debt to £216m, from £432m, adding that its order book had increased 27% to £9.8bn, from £7.7bn at the end of 2021, providing certainty against the wider market backdrop.

It had "good" visibility, with 85% of expected 2023 revenue secured.

Adjusted basic earnings per share came in at 16.8p, down from 25p at the end of the 2021 financial year, which was lower due to dilution from the prior-year equity raise.

Operationally, the board described a "strong" performance across all divisions with property delivering a return on capital employed of 14%.

"Over the last two years Kier has undergone a transformation, rationalisation and recapitalisation and the group is delivering against its medium-term value creation plan," said chief executive officer Andrew Davies.

"The performance over the last 12 months reflects our significantly enhanced resilience and strengthened financial position.

"The group is well positioned to continue benefiting from UK government infrastructure spending commitments and we have a significantly increased order book of £9.8bn which gives us certainty against the market backdrop."

Davies said the new financial year had started well, with the company trading in line with its expectations despite continued inflationary pressure, adding that there was "no change" in the current market outlook.

"We remain focused on the delivery of a sustainable net cash position and sustainable dividend policy, in-line with our medium-term value creation plan."

At 1018 BST, shares in Kier Group were down 1.06% at 74.5p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Kier Group Market Data

Currency UK Pounds
Share Price 131.60p
Change Today -1.40p
% Change -1.05 %
52 Week High 143.00
52 Week Low 67.30
Volume 931,051
Shares Issued 446.45m
Market Cap £587.53m
RiskGrade 260

Kier Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.62% above the market average21.62% above the market average21.62% above the market average21.62% above the market average21.62% above the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average
Price Trend
90.29% above the market average90.29% above the market average90.29% above the market average90.29% above the market average90.29% above the market average
90.24% above the sector average90.24% above the sector average90.24% above the sector average90.24% above the sector average90.24% above the sector average
Income
29.04% above the market average29.04% above the market average29.04% above the market average29.04% above the market average29.04% above the market average
Sector averageSector averageSector averageSector averageSector average
Growth
20.14% above the market average20.14% above the market average20.14% above the market average20.14% above the market average20.14% above the market average
7.32% above the sector average7.32% above the sector average7.32% above the sector average7.32% above the sector average7.32% above the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 6
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Kier Group Dividends

  Latest Previous
  Interim Interim
Ex-Div 18-Apr-24 28-Mar-19
Paid 31-May-24 17-May-19
Amount 1.67p 4.90p

Trades for 28-Mar-2024

Time Volume / Share Price
16:41 30,000 @ 131.60p
16:37 10,000 @ 132.00p
16:35 142,325 @ 131.60p
16:35 375 @ 131.60p
16:35 1,483 @ 131.60p

Kier Group Key Personnel

CEO Andrew Davies
CFO Simon Kesterton
Chair Matthew Lester

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