Kier admits it might need to raise more money as debt goes up again

By Dave Rogers2020-07-01T07:51:00

Covid-19 hits firm’s revenue in year to June

Kier has said it might need to raise more money to bolster its balance sheet through a rights issue as it creaks under the weight of its debt pile.

In a trading update to the City this morning, the firm said its average month-end net debt for the year to June 2020 was £440m – up from the £395m it posted for the six months to December 2019 and £18m more than its 2019 year-end.

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