Contractor Kier Group PLC (LSE:KIE) has already said that in the twelve months to June 2024, trading was up to its expectations driven by strong volume growth, particularly in construction.
Panmure Liberum expects revenue growth to have picked up by more than 18% from 4.6% in the previous year, but margins will be around ten points lower.
The broker adds that margins have risen notably in recent years, as the new management has restored project discipline to levels of around 170 basis points (1.7%) higher than in 2019.
How much of a boost the contactor expects from the Labour government’s growth plans will also be worth watching.
Panmure Liberum forecasts underlying profits to increase by 16% to £118 million from £102 million.