Kier hardy, despite demanding trading conditions
Construction group Kier has described its full year results as 'solid' and in line with expectations.
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.
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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
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