Kier group finance director to step down

Kier’s group finance director, Deena Mattar, is to step down in November. She will be replaced by Haydn Mursell who is currently deputy finance director of Balfour Beatty.

Mattar has been in the role since 2001 and says that she intends to leave the company to pursue other opportunities.

Haydn, who has been at Balfour Beatty since October 2008 and before that held a number of roles at Bovis Lend Lease, will join the company as group finance director – designate on 18 August.

The announcement comes on the same day the contractor released a trading update in which it says it expects full year underlying profit before tax to be towards the upper end of current market expectations and ahead of last year’s result.

Net cash balances during the year have been strong ending the financial year at a record level of over £170m, up from £93m for 30 June last year.

It reports its construction division has traded well with strong operating margins and a healthy cash balance and 90% of its targeted revenue for 2011 already signed. It added that last week’s announcement on the cancellation of BSF projects would not have any impact on its order book.

The firm’s support services arm continues to be profitable while its Partnership Homes division has traded broadly in line with our expectations and sold a total of 1,060 social and private homes during the year compared to 1,140 last year.

On the development side the £40m headquarters office for Ordnance Survey in Southampton is expected to be completed this summer and will release a major development opportunity elsewhere in the city which will be undertaken by the group.