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Our Vision

To be a world-class, customer-focused company that invests in, builds, maintains and renews the places where we live, work and play.

FINANCIAL HIGHLIGHTS

£4.1bn

Group revenue(1)

£124.9m

Underlying profit before tax(1,2)

£(15.4)m

Reported (loss)/profit before tax

106.7p

Underlying earnings per share(1,2)

£61m

Total dividend

64.5p

Dividend per share

£8.7bn

Order book

£(99)m

Net (debt)/cash balances

1 Continuing operations.
2 Stated before non-underlying items, see note 4 to the consolidated financial statements.

Chairman’s statement

The Group continues to perform well in growing market sectors including infrastructure, housing and regional building, providing a breadth of capabilities to clients.

I am pleased to report a set of results with progress being made on the continued delivery of our Vision 2020 strategic goals.
Phil White CBE

KIER AT A GLANCE

  • Property
  • Residential
  • Construction
  • Services

The Property division encompasses property development and structured finance. The division operates across a number of sectors but particularly the industrial, commercial, retail and leisure sectors as well as the public sector.

£21.4m

Underlying operating profit(2)

£(94)m

Average capital(4)

81

No. of employees

Kier Living, our residential business, includes affordable mixed tenure housing partnership and private house building. Its clients include local authorities, housing associations and the private rented sector.

£20.3m

Underlying operating profit(2)

£(231)m

Average capital(4)

608

No. of employees

The Construction division comprises the UK regional building, UK infrastructure and international business. Kier is a sector leader in the education, healthcare and transport markets.

£47.4m

Underlying operating profit(2,3)

£3.4bn

Order book

2.3%

Underlying operating margin(2,3)

8,067

No. of employees

The Services division comprises strategic and local authority highways maintenance, utilities, housing maintenance and facilities management, business processing and environmental services. Essential, everyday services.

£86.1m

Underlying operating profit(2)

£5.3bn

Order book

5.2%

Underlying operating margin(2)

11,193

No. of employees

1 Group and share of joint ventures.
2 Stated before non-underlying items. See note 4 to the consolidated financial statements.
3 Continuing operations.
4 Equates to net debt.
5 Restated to reflect the re-allocation of Mouchel Consulting from the Services division to the Construction division.

STRATEGY IN ACTION

X
Wallsend, North Tyneside

Working together to get the job done

A joint venture between Kier Services and North Tyneside Council oversee the building of small numbers of affordable homes in the north-east. But when the opportunity arose for a technically challenging 41-unit scheme at Wallsend, Kier Living stepped in light of the size of the project and specialist skill required.

With Kier Services looking after the pre-construction process, including surveys, designs, and early procurement, Living took on the role of developer for 31 houses and 10 rental apartments. The project involved demolishing a former police station – and recovering a previously buried 'time capsule' for the local constabulary – as well as obsolete housing and offices. The timber frame houses, clad in brick work, provide excellent insulation levels to keep residents' fuel bills down.

X
3 Sovereign Square, Leeds

A new office development regenerating the city of Leeds

Kier Property, working with Kier Construction, have built a £13m regeneration project to create 3 Sovereign Square – a first-class retail, leisure and office development in the heart of the city. This BREEAM 'Excellent' building offers 93,240 square feet of cutting-edge office space over five floors, flexibly designed and substantially prelet to Addleshaws - a premium UK business law firm with international reach. All-round glazing provides an abundance of natural light, while the ground floor includes 10,400 sq ft of retail and leisure space.

The building was completed to CAT B fit-out on budget, on time, and to the highest quality. This new development is part of a trio of buildings built around a new green public space that provides a link between the city centre and the newly regenerated South Bank and is seen as key to the city's future economic growth. The investment was sold on completion to Leeds City Council.

X
FIVE PANCRAS SQUARE, LONDON

Award-winning flagship facility for Camden Council

Kier Construction built Five Pancras Square to house the new headquarters for London based Camden Council, including a state-of-the-art leisure centre with two pools, fitness centre, library and café. Following the successful completion of the project, the Council also appointed Kier Services – Facilities Management to provide on-site facilities management services.

Built over 13-floors, this £68m project won eight nationally recognised awards, including Sustainable Project of the Year at the 2015 Construction News Awards, and The Prime Minister's Better Public Building Award 2015, recognising publicly funded projects completed on time and on budget that bring real change to a community. The building was also one of the first inner-city buildings in the UK to achieve a BREEAM 'Outstanding' sustainability rating. Our knowledge of the building's construction ensured a seamless occupation and operation of this important public building with the appropriate asset management strategies.

X
KENT COUNTY COUNCIL

Kier working across Kent

Following Kier’s Invest: Build: Maintain approach, a relationship that started in 2008 with the Property division’s investment in an education PFI has matured such that Kier Construction and Kier Services – Facilities Management now manage wide-ranging activities on behalf of Kent County Council (KCC).

Kier Construction’s regional office in Aylesford is well positioned to cover the building needs of the Council and has secured the current Kent batch of five Education Funding Agency projects. In addition, they manage 5 to 10 smaller jobs a year on the Scape framework, to which Kier was appointed in 2012, creating more new school places through Kent’s Basic Needs Allocation.

In January 2015, KCC awarded Kier a newly created Total Facilities Management contract. It comprises 116 services across the entire reach of their corporate estate – care homes, libraries, council offices and schools – around 115 commercial buildings and 700 schools in all. This is the first time the Council has outsourced the entire range of FM services, valued at £30m, across their entire estate, and each premises is able to buy the whole suite or selected services.

DOWNLOADS

The Strategic Report, Corporate Governance, Financial Statements and the full Annual Report 2016 can all be downloaded as PDFs.

Kier Group plc. Registered office: Tempsford Hall, Sandy, Bedfordshire SG19 2BD

Registered in England No. 2708030

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