Upbeat Kier reveals profits jump
British construction and property giant Kier yesterday reported a 90 per cent leap in adjusted pre-tax profit to £36.8m for its first half of the year, and said it is optimistic about a recovery in the UK construction market. The acquisition of May Gurney cost the company £22m in exceptional charges, yet helped revenue to rise to £1.43bn. May Gurney, a road maintenance firm, brought in £338m of revenue. However, shares in Kier closed down 0.55 per cent.