Company
Kier Group PLC
LON:KIE
Kier Group is engaged in construction, support services, residential and commercial property development, and infrastructure project investment. The company is organised in five divisions. The construction segment comprises Kier Regional and Kier Construction. Support services comprise Kier Support Services, which facilitates management, reactive and planned building maintenance, plant hire and other outsourced services for both private and public sectors. The Homes segment operates through Kier Residential. The property development business operates through Kier Property and engages in commercial property development. In the Infrastructure investment segment, Kier Project Investment manages the company’s interests in private finance initiative (PFI), as well as construction, property development, housing and facilities management.
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Builders and building materials
Kier Group shrugs off cost inflation to report 'strong' growth in profit and orders
“The new financial year has started well and we are trading in line with our expectations, despite continued inflationary pressure and see no change in the current market outlook,” said the company's chief executive Andrew Davies
Builders and building materials
Kier Group sees in-line full-year results as order book jumps 26%
"Kier delivered a strong operational performance over the last year, despite inflation and political uncertainties," said chief Andrew Davies
Builders and building materials
Kier Group sees in-line interim results
The infrastructure services group's order book stood at £8bn at end-2021, up 4% on a year earlier
Builders and building materials
Kier nudges up full-year expectations
The group's contract awards in the second half of the year were at lower levels than that seen last year due to procurement delays resulting from the pandemic, Kier said
Builders and building materials
Kier shares jump as cost cutting offsets lockdown impact
Statutory half-year profits will be “materially better” than a year ago
Builders and building materials
Kier Group operations chief leaves as job cuts ramped up
Friday’s statement revealed that the construction group was on track for the savings target and would reach the headcount target in the current financial year
Builders and building materials
Kier chairman Philip Cox to step down as the contractor slumps to full-year loss
Kier took a £341mln hit related to the costs of preparing to offload some of its businesses, restructuring charges and loss-making contracts
Archive
Mondi is the top Footsie faller after gloomy outlook statement
A look at the day's major movers, including London Stock Exchange, Kier Group and Capita
Builders and building materials
Kier Group is now the most shorted stock in London
According to regulatory filings, there are six funds and asset managers betting heavily that the contractor's share price will continue to fall
Archive
Kier Group is feeling the pressure ahead of Thursday’s trading update
Last month Kier issued a profit warning, so investors will be watching wearily as Thursday's trading update lands.
Archive
Barratt Developments and Bovis Homes to provide main building bricks in coming week
Aside from the two housebuilders, corporate updates in the coming week will also be delivered by retailers Ocado, Superdry and Dunelm
Archive
FTSE 100 slips at close as investors brace for US Fed decision
All eyes will be on the statement from Fed rate setters later, especially due to the pressure to lower rates from President Trump
Builders and building materials
Could Kier become the next takeover target after Babcock rebuffs Serco offer?
Valuations of UK contractors have been squeezed in the past year amid concerns they could face the same fate as collapsed Carillion
Builders and building materials
Kier to axe 1,200 jobs and sell non-core businesses as part of overhaul
Kier plans to sell or substantially exit its housebuilding, commercial property development, facilities management and environmental services businesses.
Investments and investor services
FTSE 100 closes higher Monday, just, as traders sit on hands
Footsie closed around 11 points higher at 7,357 at the start of the week, while mid-cap cousin FTSE 250 gained over 39 points
Builders and building materials
Kier fears reappear as credit insurers withdraw support, housebuilding price disappoints
A newspaper report indicated that the construction group's finances were under renewed pressure after two trade credit insurers had withdrawn support
Investments and investor services
FTSE 100 closes near flat as US ADP jobs report shakes confidence
The UK blue-chip share index finished up around four points at 7,218
Neil Woodford's fall from grace: Where it went wrong for the famed stock-picker
Woodford has made some bad investment calls: Provident Financial, Capita, Circassia Pharmaceuticals and Allied Minds
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Investments and investor services
Kier shares slide as the troubled outsourcer issues profit warning
Kier blamed the profit warning on lower-than-expected sales in its building division as well as “volume pressures” in its highways, utilities and housing maintenance arms
Investments and investor services
FTSE 100 closes higher despite continued trade worries
The UK's blue-chip benchmark added over 23 points to close at 7,184
Builders and building materials
Kier Group launches strategic review as Andrew Davies takes helm
It will consider a restructuring, look at capital allocation and ways to improve cash generation
Archive
SimplyBiz boosted by agreement to acquire financial adviser Defaqto
A look at the day's biggest risers and fallers including SimplyBiz, Motif Bio, and Amphion
Builders and building materials
Kier posts drop in first-half profit but maintains full-year guidance as future proofing programme continues
For the six months ending 31 December 2019, the company saw its underlying pre-tax profit fall by 21% to £39.0mln, down from £49.4mln a year earlier, although underlying revenue increased by 2%
Archive
FTSE 100 closes firmly in red as traders flee risk ahead of Fed statement
The UK blue-chip index finished down nearly 33 points lower at 7,291
Archive
Macro focus on Wednesday with Fed rate decision and UK inflation data expected
The Fed released a statement in January that suggested it was no longer sure if it would continue raising borrowing costs, after hiking rates four times in 2018
Builders and building materials
Kier names Andrew Davies, the man who almost took charge of Carillion before its collapse, as its new CEO
The FTSE 250-listed construction firm pointed out that Davies was CEO of Wates Group, a privately-owned construction and property services firm, from 2014 to 2018
Archive
Retail results to vie with 'Meaningful' Brexit vote, UK, US rate decisions, and key data
DIY stores owner Kingfisher, clothing retailer Next, plus troubled fashion firm Ted Baker will report full-year results, with trading updates due from internet grocer Ocado and online fashion group ASOS
Interserve and Kier in strife as collapse of rival Carillion continues to weigh on industry sentiment
Interserve is urging shareholders to back a rescue deal while Kier has admitted an accounting error that pushed up its debt for 2018 following a disappointing rights issue
Builders and building materials
Kier shares tank as it revises debt higher after disappointing rights issue
Kier maintained its expectations for the 2019 financial year while noting the “current political and economic uncertainty in the UK”.
Builders and building materials
Kier shares decline after reports it plans to sell housing maintenance arm
The news comes after Kier’s chief executive Haydn Mursell stepped down last week following a disappointing rights issue in December
Builders and building materials
Kier Group CEO steps down after disappointing rights issue as firm maintains guidance
"The board believes that, following the completion of the recent rights issue, now is the right time for a new leader to take Kier forward to the next stage of its development,” chairman Philip Cox said
Investments and investor services
Brexit a factor in easyJet update, while US/China trade wars could be a drag for Burberry
The Week Ahead will also bring trading updates from the likes of Vodafone, Anglo American, William Hill, Dixons Carphone, and WH Smith, plus the latest UK jobs and wages data
Builders and building materials
Kier up as Liberum says model "complicated but robust” as it resumes with ‘buy' after rights issue
The 'house' broker set a target price of 660p on the FTSE SmallCap firm’s shares, with the stock currently trading at 520p, up 2% on Monday’s close
Builders and building materials
Kier Group shares drop as just 38% of rights issue shares taken up, but firm still to net £250mln
The FTSE 250-listed construction firm announced the 33-for-50 rights issue in November and was looking to issue 64.5mln new shares at 409p each, however, just 24.3mln of the shares were taken up
Archive
Balfour Beatty investors looking for more reassurance in Friday’s update
The penultimate Friday looks unsurprisingly like being a quiet one, but Balfour Beatty is due to publish a trading update and investors will be looking for more reassurance from the contractor
Archive
All eyes on UK parliament as Brexit deal circus reaches final act
Aside from the crucial Brexit vote, the Week Ahead will also bring UK labour market data, an ECB council meetings and updates from TUI, WPP, Dixons Carphone, Superdry, Ocado and BAT
Builders and building materials
Balfour Beatty aims to reassure on debt situation, says completed repayment of £252.7mln convertible bond
The FTSE 250-listed firm said that as a result of the convertible bond repayment, it has now paid down 45% of its gross debt in the last 12 months
Archive
FTSE 100 closes firmly lower as investors realise US/China trade dispute continues
The UK index of leading shares finished down over 39 points lower at 7,022.
UK highway maintenance contractor Amey one of the assets being put up for sale by Spanish infrastructure group Ferrovial - report
The Spanish firm acquired Amey in 2003 for £81mln, then went on to take over airports operator BAA for £10bn in 2016, and in 2013 it paid £385m to acquire Enterprise
Builders and building materials
Liberum Capital places ‘buy’ rating, 1,400p price target for Kier Group ‘under review’ following £264mln cash call
The Liberum analysts noted that Kier’s management believe the external environment has changed recently - partly as a result of Brexit - and banks, suppliers, customers and bondsmen all want the firm to have lower leverage
Archive
Interserve weak as Kier Group cash call comments spark concerns for constructors
A look at some of the London market's biggest risers and fallers on Monday
Builders and building materials
Kier Group shares plunge as FTSE 250-listed firm taps shareholders for around £264mln via a rights issue
Kier said it believes that risks associated with the group's net debt position have recently increased, adding that the cash call will better position it in light of tighter credit markets and more stringent tender pre-qualification require
Webis weak on limited California license renewal; Kier Group drops on cash call
A look at some winners and losers in the UK equity market on Friday
Builders and building materials
Kier Group investors gained small victory following post-results rise for the City’s most-shorted stock
According to data published by Castellain Capital, the ‘shorters’ started building their positions in January, which, coincidentally, was the month debt-laden construction group Carillion was liquidated
Builders and building materials
Kier confident it will meet its full-year expectations, with results being weighted towards the second half
The FTSE 250-listed group said it continues to focus on operational cash generation and net debt reduction, a key facet of its Future Proofing Kier (FPK) programme
Investments and investor services
FTSE 100 closes Friday in the red after tumultuous week for UK politics
The UK's premier share index lost around 24 points at 7,013 on the day - and was down 1.29% on the week.
Archive
Kier Group update and Brexit fallout to star on Friday
It looks like Friday will be a quiet one in terms of company news, but the City will have plenty to get its teeth into, with Theresa May’s position looking increasingly fragile
Builders and building materials
Kier Group sees full-year profit, revenue rise thanks to new projects and contract wins, plans to simplify operations
For the year ended 30 June 2018, the FTSE 250-listed firm reported a headline pre-tax profit of £106.2mln, a swing around from a loss of £14.2mln a year earlier
FTSE 100 closes higher as US stocks surge
The UK's premier index closed up around 36 points at 7,367.
Investments and investor services
Diageo expected to be the toast of Thursday’s market news
Diageo and Lamprell are expected to be among the names under focus in Thursday's schedule.
Investments and investor services
FTSE 100 closes higher but off 6,700
The UK blue-chip benchmark closed around four points higher at 7,692
Eyes on Marks & Spencer and Ocado as spotlight is set to remain on retail
Marks & Spencer's AGM day is set to be less eventful than usual, as it has decided not to provide a trading update.
Archive
High street vs online: Updates from retailers Mark & Spencer and ASOS will provide fuel
Aside from M&S and ASOS, the week ahead will also bring trading updates from the likes of Ocado, Burberry, Barratt Development, Experian, and JD Wetherspoon
Builders and building materials
Barclays initiates coverage on Keller, Balfour Beatty and Kier Group
Contractors are not exactly flavour of the year following Carillion's collapse but Barclays has decided to initiate coverage on three of the big players
Investments and investor services
FTSE 100 closes higher as Dow Jones climbs after host of data
Britain's blue chip index closed up around seven points, or 0.10%, at 7,139..
Investments and investor services
Cineworld and Savills financial results in the spotlight for Thursday
Investors will be looking to Cineworld for news of asset integration, whereas for Savills results the attention will be on its battle for market share.
Builders and building materials
Kier shares surge on reassuring trading update amid Carillion concerns
Kier is on track to deliver double-digit profit growth for the year
Investments and investor services
FTSE 100 closes lower as Euro gains ground
Britain's blue-chip benchmark finished around 27 points lower at 7,615.
Investors to look for clarity on Fox takeover in Sky’s trading update on Thursday
The proposed £11.7bn takeover of Sky from Fox is all becoming a bit messy, so investors will be hoping the UK broadcaster can shed some light on whether a takeover from anyone is likely
Archive
Margin improvements the focus for interims from drinks group Diageo in coming week
Week ahead includes updates from Diageo PLC, easyJet PLC, Dixons Carphone PLC, ASOS PLC, Sky PLC, JD Wetherspoon PLC, plus UK labour market and GDP data
Carillion collapse puts contracts at risk but presents opportunities for sector peers
Carillion's contracts, joint venture partners and lenders are hanging in the balance after confirming its collapse
Builders and building materials
Kier doesn’t expect Carillion’s collapse to affect its own business
“After a short period of transition for these contracts, we do not expect there to be an adverse financial impact on the group arising from these joint venture contracts”
Builders and building materials
Kier Group reiterates expectation of “double digit” profit growth this year
“The group remains on course to deliver double digit profit growth in the current year and achieve its Vision 2020 targets”
Archive
Record interims among very few fixtures in Friday’s schedule
Currency manager services group Record Plc (LON:REC) is among the very few names fixed in the diary, with interim results due.
FTSE 100 closes lower after lacklustre day; May's Brexit plan in focus
Attention now switches to Theresa May's speech on Brexit in Florence
Investments and investor services
Mitchells & Butlers expected to show a slowdown in sales
Capita is among the blue-chip names on Thursday's agenda.
Archive
Focus shifts to US interest rates with Fed meeting; UK retail updates due from Kingfisher, Ocado
Week ahead includes Federal Reserve interest rate announcement, UK retail sales data, second quarter results from Kingfisher PLC, and trading update from Ocado PLC
Builders and building materials
Balfour Beatty and Carillion both get multi-billion pound HS2 rail contracts boost
Balfour Beatty said the £2.5bn contracts have been awarded to its 50/50 joint venture with France's Vinci SA, with work scheduled to start in 2018/19
Builders and building materials
Kier Group takes £73mln hit for 'portfolio simplification'
Kier Group says its portfolio simplification programme is nearing conclusion and that its profits are in line with expectations in the current financial year. It also optimistic about the next financial year.
FTSE 100 closes higher with retailer Next top riser
FTSE 100 was three points higher at 7,238, Next rises strongly.
Archive
Next to report first annual profit decline in eight years as Brexit hurts retailers
Next plc is facing the industry-wide pressure of rising inflation but its issues are also company-specific
Archive
Next firmly on the back foot as shoppers batten down hatches
Week ahead: Next, Kingfisher, Smiths Group ,Satellite Solutions ...
Sirius Minerals named among the ‘top tips’ for 2017
Here we take a look at the medium and small cap companies included among Fleet Street's top stock market tips for 2017.
Archive
Proactive mining highlights: Acacia Mining Armadale Capital PLC Alba Mineral Resources Aura Energy Limited Berkeley Energia Ltd Bushveld Minerals Limited Bezant Resources plc Capital Drilling Ltd Chaarat Gold Holdings Ltd Diamondcorp Plc FERRUM CRESCENT
Round up of this week's mining headlines from the world of Proactive.
Builders and building materials
Kier lifts dividend by 17% as acquisition boosts profits
Mouchel deal helps construction and support services group to increase profits by 44%
FTSE 100 marks 5-week high on Fed-fuelled rally
London stocks ended at a five-week high on Thursday as investors took comfort from the Federal Reserve’s decision to hold off a US rate hike the previous day
Will Mitchells & Butlers whet investors' appetites?
Pub and bar owner to update the market ahead of full-year results
PREVIEW - Faroe Petroleum's portfolio in focus with interims
A look at some of the firms reporting in the week commencing September 19
Week Ahead: Housebuilders and retailers to face referendum grilling
Reports have suggested the EU referendum result is likely to depress house prices