To be a world-class, customer focused company that invests in, builds, maintains and renews the places where we live, work and play.
1 Continuing operations. Group and share of joint ventures.
2 Continuing operations. Stated before non-underlying items. See note 4 to the consolidated financial statements.
3 Restated to reclassify the profit on disposal of Mouchel Consulting within discontinued operations.
KIER AT A GLANCE
Our business today
Our four operating divisions are transitioning to a new reporting format focused on three market positions. This change supports the way the Group works with clients and underpins complementary capabilities.
Our focus tomorrow
From 1 July 2018, financial reporting will be under three key market positions.
Top three infrastructure player in the UK with a number one position in UK strategic highways
The UK’s leading regional builder with key positions in education, health and on numerous frameworks
DEVELOPMENTS & HOUSING
A top three provider of affordable housing and related maintenance services. A top property trader and developer
Our key market sectors
OUR THREE MARKET POSITIONS
We provide essential INFRASTRUCTURE SERVICES
We are leveraging our skills to deliver for the end-user – be they road users, water consumers, residents or rail passengers.
The heritage of Kier rests in its track record of construction. However, today the Group’s capabilities are weighted more to services with an increasing footprint in infrastructure services. These services underpin the social and economic growth of the UK. Key infrastructure projects include Crossrail, the Mersey Gateway bridge, Hinkley Point C and currently the roll-out of one of the UK’s largest rail infrastructure projects, HS2. Approximately 38% of the Group’s revenue is in infrastructure services with a significant presence across the UK in the highways and utilities services sectors. The provision of both capital projects as well as the maintenance of those assets enables the Group to offer clients an end-to-end solution and enhanced value.
Kier is the number one provider of strategic maintenance and management of highways services. Key clients include Highways England, Transport for London and a number of local authorities across the country. In the utilities sector, the Group has specialist capabilities in the power and energy, water, telecommunications and rail sectors. In power and energy, clients include UK Power Networks and Western Power Distribution and in the water sector clients include Anglian Water and Thames Water. In telecommunications, the Group is now the largest provider of domestic fibre installation services for Virgin Media following the acquisition of McNicholas, and in rail provides electrical and mechanical services to Network Rail.
We are THE UK’S LARGEST REGIONAL BUILDER
With growth in the UK’s population, more public facilities including hospitals and schools are needed as well as places to work, rest and play.
Kier is a national builder with a network of regional offices which ensures that every project contributes to the local economy, utilising local skills and drawing on the local supply chain.
Our portfolio covers local and regional projects as well as major projects. We have the flexibility and expertise to build across a range of projects from a £250k extension to a strategic asset costing hundreds of millions of pounds.
Our activities support local economies with work including town centre regenerations, refurbishing transport hubs and interchanges, building schools, civic and leisure facilities such as museums and hotels, and developing commercial sites. Over 400 projects are undertaken each year. With a focus on new building methods, Kier has delivered over the last five years more than £2bn of projects that have included using off-site construction and modern methods of construction. Kier is a leader in the education and health sectors and has an established position on public frameworks and growing positions in the private sector.
We are a LEADING PROVIDER OF AFFORDABLE HOUSING
We work collaboratively to regenerate communities and to accelerate the delivery of houses to areas of the country with the greatest need.
Kier has a strong track record in regenerating areas through its property development and housing activities. These capabilities, along with strong local knowledge and supply chain relationships, also allow us to provide maintenance services to local authorities and private landlords with large housing portfolios. With demand outstripping supply, Kier works closely with Homes England and other housing providers to accelerate the development of new affordable homes which help address the national shortage in the UK market where over 300,000 homes are needed every year. The increased use of technology within the home has seen a change in the building of new homes.
The inclusion of smart design and technology within the home is driving innovation. Kier Living has invested £3m in upgrading its customer relations software platform to help improve communications with its customers pre and post sales completion. In the housing maintenance market, Kier is pioneering an entirely new predictive approach to property asset management to pre-empt maintenance issues and so prevent the need for costly and disruptive reactive repairs.
“We have delivered a good performance with both revenue and profit growth in line with our expectations. We remain focused on delivering for our clients, reducing our net debt position and ensuring tight control over the risk profile of our contracts and our balance sheet. All these areas remain key priorities for the Group.” - Philip Cox CBE, Chairman
CHIEF EXECUTIVE'S REVIEW
“This year’s performance has been underpinned by our leading market positions. We have delivered increased profits and our order books are at record levels. With changing market conditions, it is important we remain fit and healthy for future growth. We have therefore launched the Future Proofing Kier programme which is focused on improving our ways of working.” - Haydn Mursell, Chief Executive