Contractor makes a £4.3m profit on Oldham and Norwich stakes

Kier has cashed in on its PFI stakes in Oldham and Norwich schools to make a £4.3m profit.

The stakes were sold to a joint venture between HICL Infrastructure Company and Kajima Partnerships for £9.2m.

Kier – which built the schools – will continue to provide FM services for a further 21 years at Norwich and 22 years at Oldham.

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