Construction group Kier has described its full year results as 'solid' and in line with expectations.
Underlying pre-tax profits of £70.0m in the year to June 30th were up 2% on the previous year's £68.9m and a shade ahead of market expectations of £69.7m.
Underlying earnings per share (EPS) of 156.8p were up 6% from the previous year's 148.4p, as the group enjoyed a 6% reduction in its effective tax rate. Analysts following the company had pencilled in 147.91p for EPS.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The full-year dividend is up 3% to 66p from 64p the year before, reflecting the board's confidence in the business. The broking community evidently have similar confidence, as they had predicted a full-yeardivi of 65.94p.
More to follow ...
JH
-
Emerging markets must deliver growthEmerging markets have benefitted from the rotation away from the US – but can the rally last?
-
HMRC savings tax crackdown: More workers to pay tax directly from their wagesBanks and building societies will be required to obtain National Insurance numbers from savers to make it easier for HMRC to tax those who breach their personal savings allowance
