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Kier Group posts 90% hike in profits on back of strengthening order book

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February 27 2014

Kier Group posts 90% hike in profits on back of strengthening order book
Kier Group has reported a 90 per cent hike in profits for the six months to 31 December after its revenues were boosted by the acquisition of construction services firm May Gurney and a strengthening order book.

An interim financial statement released by the construction, services and property group showed it made an underlying profit of £36.8m over the period, up from £19.4m a year earlier, on the back of revenue of £1.4bn.

Kier Construction is currently delivering an £8m student housing development in Partick penned by Carson & Partners alongside a £6m science and technology teaching facility by Halliday Fraser Munro for Robert Gordon’s College.

The construction group has also just been selected to build a £9.5m BDP designed extension at Robert Gordon University’s Garthdee campus, providing a new home for the Scott Sutherland School of Architecture and Built Environment.

Brian McQuade, managing director of the Scottish and north-east England arm of Kier’s Construction division, said: “The outlook for the construction sector is looking increasingly optimistic and this is mirrored in our own business where we are shaping up for sustainable growth this year.  We have secured significant new contracts in Scotland in recent months and have a strong order book and a healthy cash balance.”
Kier recently won the contract to build this extension at Robert Gordon University
Kier recently won the contract to build this extension at Robert Gordon University
The firm is currently on site in the west end of Glasgow delivering this student residential scheme on behalf of Alumno Developments
The firm is currently on site in the west end of Glasgow delivering this student residential scheme on behalf of Alumno Developments

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