Kier Share Discussion Threads

[stdyeddy] 18/1/2024 08:08

Excellent news in the trading update:

Order book
The order book as at 31 December 2023 was c.GBP10.7bn, a c.6% increase on the year-end position (30 June 2023: GBP10.1bn) and the prior year comparative (31 December 2022: GBP10.1bn). The Group has secured revenue of 92% for FY24, providing a high degree of visibility. Long-term framework positions are excluded from the order book and represent an additional opportunity. Bidding discipline and risk management embedded across the business continue to drive the high quality and profitable order book.

Recent awards include:
-- Infrastructure Services:
o Natural Resources, Nuclear & Networks: Awarded a c.GBP30m contract with Evolve to deliver a pipeline in Northern Ireland under their Gas to the West project

-- Construction:
o Awarded four education projects worth a total of c. GBP150m, a healthcare project worth c.GBP60m and the contract to deliver a new houseblock for the Ministry of Justice at HMP Elmley worth over GBP100m.

Net cash / debt
Kier's focus on operational delivery and cash management alongside the cash generation from the strong volume growth has successfully resulted in the Group continuing to deleverage materially with average month-end net debt of c.GBP(140)m (HY23: GBP(243)m) showing a significant improvement of c.GBP100m.

Kier is expected to report a modest net cash position at 31 December 2023 (HY23: GBP(131)m).

Dividend
The continued resilience in trading, order book security and ongoing strengthening of the balance sheet provides the Board with confidence to resume dividend payments in the current financial year, commencing with an interim dividend to be announced alongside the half year results.

Andrew Davies, Chief Executive of Kier, commented:

"Kier has made a good start to the year, in line with our expectations. I am particularly pleased with the progress we are making on reducing debt, which has resulted in the Group materially deleveraging its balance sheet in the first half. We have achieved this through disciplined growth as well as our unstinting focus on operational excellence, cash management and cash generation. Kier remains well positioned to continue benefiting from UK Government infrastructure spending commitments and this gives the Board every confidence in delivering our medium-term value creation plan."

[sparty1] 11/1/2024 17:41

KIE doing ok . Bathboy ...time to pull the plug.Don't forget to scrub the scum round the sides.

[richsawko] 11/1/2024 09:00

Very positive moves ahead of update next week. Looks like it will reach year high by then

[stdyeddy] 10/1/2024 12:24

Trading update is due next week on Thursday 18th. There may be news on the return of the dividend on that date too. Should be very positive for the share price.

[stdyeddy] 10/1/2024 11:49

From Construction Wave:

Kier has been appointed to deliver new-build and refurbishment works for a college campus in Bournemouth.



The Department for Education (DfE) hired the company to redevelop Bournemouth & Poole College’s (B&PC) Bournemouth campus in the Lansdowne area.

Five buildings on site will be demolished and replaced by a single teaching facility which will be net zero carbon in operation, with air source heat pumps and photovoltaic panels.

New amenities, including a restaurant, gym and salons, will also be built and made available for community use.

The remaining Grade II-Listed buildings, including the Clock Tower Building, will be refurbished with façade and roof repairs and plant room upgrades.

It marks the latest appointment for Kier on the DfE Construction Framework, following Oak Academy in Bournemouth where it is delivering a new campus for the 900-place secondary school.

[marksp2011] 05/1/2024 14:29

M&G sold 5% of the stock, that explains the faltering.

[stutes] 05/1/2024 08:25

We shall see how K's selective tendering is better than chasing turnover with low margin.

[stdyeddy] 02/1/2024 14:27

Lol. Are you the same peter who forensically unravelled wally's interserve lies on here a couple of years back?

[petersw1] 02/1/2024 11:48

If you really want Wally based entertainment you need to go to the SFOR board.He thought it was a good buy at 350ish back in May 2022. Now he's upset that it's rising from the mid 40s and is telling everyone to sell.

[stdyeddy] 02/1/2024 08:55

Latest framework contract win for Kier:




Kier and ISG among winners on £1bn framework
Kier, ISG and Galliford Try are among the firms to have landed slots on a £1bn framework for public-sector projects in the North West of England.

The contractors are among 11 to win places on the North West Construction Hub’s Medium Value Construction Framework, which runs until 2026.

[windingroad] 28/12/2023 23:32

As I guessed it would in January, the shareprice has gained steadily and 120p is now in sight. The trolls that were posting multiple times daily seem to have finally given up. Whatever happened to that plonker wallywoo? All of his posts over the last few years on Kier look utterly ridiculous now.

Looking forward to the January 2024 update and beyond. Happy new year!

[stdyeddy] 27/12/2023 12:03

RNS on Kier's capital reduction (reorganisation) today: £687m has just gone into Kier's profit and loss account as a profit (distributable money) paving the way for dividends to be paid. On the group account in terms of equity, I think this converts the accumulated losses to a 'profit' of about £147m based on the annual report published in September (pg169). There is of course another half-year of likely profit as we reach the half-year in four days' time. Happy to hear from any genuinely qualified accountants on the above.

Easy now for Kier to pay out £30m this year in dividends if that's what management decide on.

[itisonlymoney] 22/12/2023 11:13

expectations already low on kier, undeservedly now. fwd p/e of 4. that's why the shareprice always jumps on release of actual numbers. this could double by end of financial year in June when the market wakes up to kiers actual position.

[stdyeddy] 22/12/2023 09:55

It's good that you say that wolly/bathboy, because you seem to have a 100% consistent record in being completely wrong.

[bathboy2] 22/12/2023 08:26

See recession fears still exist , that will dampen expectations .

[stdyeddy] 18/12/2023 19:00

Another Kier manager buys shares with their own money -- see RNS after the close today. This is the latest in a series of employees' own purchases of Kier shares in recent weeks after several years where almost the only employee buy-ins that we've seen have been through the share incentive scheme. Evidently there's a lot of confidence internally and an awareness that the share price is likely to rise significantly.

[itisonlymoney] 14/12/2023 02:11

time has told already on you. over 400 hundred trolling posts from you on here since 2021, all of them wrong. time you gave up for good. kier turned itself around in 3 years and is now a profitable well funded business again.

[bathboy2] 13/12/2023 22:34

Risk takes many forms , but while I know some contracts are on a cost plus basis , the majority could be on a fixed price basis, and could be breakeven at best , time will tell

[volsung] 13/12/2023 16:01

These shares were boring me so I have sold

[stdyeddy] 13/12/2023 14:01

Yeah, too risky -- the government might go broke and not pay. You are an idiot. Kier is making a better margin than Costain and many others. More than 3.5% on £3.5bn turnover with the current shareprice putting the company on a fwd p/e of 4 (absurdly low).

In a few weeks time Kier will announce its first dividend in several years. The shareprice will rise either gradually before then or make another sharp rise beginning on the day. This is heading to 130-150p and by Kier's year end in mid-2024 it'll likely be 180-200p depending on the dividend value and cash generation numbers.

Davies's approach has been ultra-cautious and since they've now survived pandemic, war and high inflation (now on the verge of deflation) there's not much that can derail this company.

[bathboy2] 13/12/2023 09:36

Think this shows , the most of the other tier1 have reduced their amount of government work taken , possibly because it's not profitable enough, or too risky, just another angle , doesn't seem to be hurting BBY

[stdyeddy] 12/12/2023 10:17

Well this should reassure the market then:

Kier wins more public work than any other company


Kier won more work from the government than any other company in the UK during the last financial year.

Analysis by procurement data specialist Tussell shows Kier secured public sector contracts worth £1.4bn in the year to March 2023.

That put it top of the league of “strategic suppliers” to the government who do so much business with the public sector that their relationship is directly managed by the cabinet office.

[zicopele] 11/12/2023 20:25

Market may be nervous about prospects for construction sector.

[bathboy2] 11/12/2023 17:57

But another big drop today , what has investors spooked , after so many on here , sounding the victory trumpet

[zicopele] 11/12/2023 11:14

More people want to sell than to buy.