Users of concrete tools working for Kier Group may have seen more work as the company has announced that it expects to achieve full-year underlying profit before tax in the higher end of the range predicted for the construction market and exceed last year's result.
The firm has ended the financial year with a record high of over £170 million in net cash, compared with the £93 million posted on June 30th 2009.
Furthermore, almost 90 per cent of 2011's revenue is already secured through signed contracts or preferred bidder statuses on projects, as the company hopes to extend the high volumes it claims to have seen this year.
Indications that the private commercial market may be recovering have spurred Kier on to claim that it will not be too negatively impacted by the recently announced cutbacks in the Building Schools for the Future programme, although a substantial proportion of recent contracts have been in the education sector.
Indeed, the local authority in Northumberland recently brought on the company to construct three new buildings for the Northumberland Church of England Academy.
Posted by Andrew Miles
The firm has ended the financial year with a record high of over £170 million in net cash, compared with the £93 million posted on June 30th 2009.
Furthermore, almost 90 per cent of 2011's revenue is already secured through signed contracts or preferred bidder statuses on projects, as the company hopes to extend the high volumes it claims to have seen this year.
Indications that the private commercial market may be recovering have spurred Kier on to claim that it will not be too negatively impacted by the recently announced cutbacks in the Building Schools for the Future programme, although a substantial proportion of recent contracts have been in the education sector.
Indeed, the local authority in Northumberland recently brought on the company to construct three new buildings for the Northumberland Church of England Academy.
Posted by Andrew Miles