Investors back Andrew Davies’ vision for Kier

By Dave Rogers2020-03-10T06:00:00

Dave Rogers on the way ahead for Kier, its housing arm and its jobs

While far from out of the woods – this is a company with an average month-end net debt of £395m; Morgan Sindall, by way of contrast, had an average daily net cash position of £109m last year – Kier is certainly beginning to see some sort of clearing ahead.

A large part of this is down to the appointment of Andrew Davies as chief executive and the City is clearly on board with his vision for Kier’s future, given that a number have recommended that investors buy up their shares. Its stock rose 25% on its interim results, only to take a coronavirus-driven clobbering a day later.

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