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Kier benefits from strong order book

Construction firm Kier benefits from major Crossrail wins and heathly 2% operating margin, according to its latest interim management statement.

Kier’s statement said the firm were benefiting from “high quality order books which generate good margins and healthy cash balances”, with an operating margin “firmly above 2%”.

The firm has secured has secured about £600M of new work since January.

The firm is looking to grow its infrastructure and power market, and is buoyed by major Crossrail contracts wins worth £480M, and shortlisted for a further five station projects worth more than £1.2bn. The firm is bidding for EDF’s Hinkley Point nuclear power station.

Kier has also won major contracts on Hong Kong’s rail network worth £82M.

Kier’s services division secured a £2bn order with a with a 4.5% operating margin.

The statement said: “The Group’s financial performance to date is in line with our expectations, we have strong order books in Construction and Services and our net cash position remains healthy.”

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