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21 September 2018

Kier’s strong financial performance

First published21/09/2018
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Kier has been successful in the Australian roads market
Kier Group has announced a strong financial performance for its full-year results to 30th June 2018. The results were bolstered in particular by a solid performance in its highways business. The company claims that this has reinforced the firm’s position as the UK’s leading provider of highways management and maintenance services.

Over the 12 months, Kier has maintained its position as the lead supplier to Highways England. Securing two three-year extensions to 2021 and 2022 respectively worth over £250 million/year were secured in Areas 3 & 9 the business has also won six-month extensions on Areas 6 & 8.

Following Carillion’s liquidation, its work on the M6 junctions 16-19 has transferred to Kier, complementing other Smart Motorways work the business carries out on the M6 junctions 13-15, the M20 and M23.

Kier says it has upheld its position as key provider of local authority highways maintenance services such as with the £147 million Shropshire County Council highways contract agreed on 1st June 2018.

In Australia, the joint venture with DM Roads was successful in being awarded two new contracts; the five-year £180 million Perth Metropolitan Network Contract and the five-year £30 million Goldfields-Esperance Rural Network Contract. These contracts reflect the increasing demand for new and upgraded roads in the region in light of population growth.

Dave Wright, executive director for Highways, commented: “This is a solid set of results for the highways business and are a testament to the successful work our teams have been undertaking on behalf of our clients. We are delighted to have secured extensions on Areas 3 & 9 and 6 & 8 and look forward to continuing to work with Highways England and our supply chain to build upon its current way of working.

“We place collaboration, innovation and safety at the heart of our business. We continue to work closely with our clients and the supply chain to bring new and innovative technologies to the road network that increase safety for road workers and users, as well as improving efficiency.”

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