Kier racks up £36m loss despite increased turnover

By Will Ing2019-03-20T08:02:00

Infrastructure and construction arms record a profit, but firm lost money on developments and housing

Kier has reported a pre-tax loss of £35.5m for the six months ended 31 December despite a 2% hike in turnover.

The period saw the firm launch an £264m rights issue, which received little support from investors, and was the last overseen by Haydn Mursell – who Kier’s board ousted in favour of Andrew Davies.

The firm brought in revenue of £2.2bn from the three strands of its business: £419m from developments and housing, £830m from building and £884m from infrastructure services.

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