LONDON (dpa-AFX) - British construction and property company Kier Group Plc (KIE.L) reported Tuesday that its first-half profit increased from last year with growth in revenues.
Looking ahead, Andrew Davies, Chief Executive, said, 'The second half of the financial year has started well, and we are trading in-line with the Board's expectations. The Group is confident in sustaining the strong cash generation achieved over the last few years and is well positioned to continue benefiting from UK Government infrastructure spending commitments.'
The company said high quality order book increased 2 percent to 11.0 billion pounds, providing significant visibility. It has secured 98 percent of expected FY25 revenue.
Further, the Board is declaring an interim dividend of 2.00p per share, representing an increase of 20 percent from the prior year. The interim dividend will be paid on June 2 to shareholders on the register at close of business on April 25.
For the first half, profit before tax grew 6 percent to 28.6 million pounds from prior year's 27.0 million pounds. Basic earnings per share were 4.6 pence, same as the prior year.
Adjusted profit before tax was 50.6 million pounds, compared to 49.0 million pounds a year ago. Adjusted basic earnings per share remained flat with last year at 8.7 pence.
Revenue grew 5 percent to 1.98 billion pounds from 1.88 billion pounds a year ago with strong operational delivery across Infrastructure Services and Construction.
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