Kier keeps its order book full and trades well

 
Kasmira Jefford
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CONSTRUCTION group Kier yesterday said it continued to perform in line with expectations as it maintains a robust order book and a healthy cash position.

The group cited trading at its construction division as “resilient” with current operating margins above two per cent.

Its construction order book of secured and probable work now accounts for 85 per cent of its target revenue for the 2013, Kier said.

Its growing services division has also secured several contract wins that have buoyed its £2bn order book, including a maintenance contract for London Fire Brigade.

One the property side, Kier said it now has a development pipeline worth around £750m.

It was recently confirmed as the preferred bidder for the £50m PFI project to design and build 11 fire stations for Staffordshire Fire and Rescue Service. Kier also said its private housing business was on track to deliver in excess of 600 completions this year.