Kier says it is on track for year as it puts Scottish mines up for sale

Suzie Neuwirth
CONSTRUCTION and services group Kier yesterday said it is in talks with a potential buyer for its mining operations in Scotland, as it revealed that trading this year is in line with expectations.

“As a result of our ongoing approach to capital discipline, our mining operations at Greenburn in Scotland have been prepared for sale and discussions are ongoing with a potential buyer,” said the FTSE 250-quoted firm.

It said the sale would result in an impairment charge this year but would not impact its cash position.

Kier, which is the UK’s fourth-largest construction contractor, said that performance across all four divisions of the business was in line with forecasts, with “significant year-on-year organic growth” in its construction unit.

Following the acquisition of infrastructure and business services firm Mouchel, the total order book for the enlarged group stood at £9.3bn on 31 May.