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Kier eyes construction revenue target eight months early

Kier believes it has already bagged all the work it needs to hit its projected construction revenue for the year to 30 June 2015.

The Bedfordshire-based firm told the City this morning it had a pipeline of £2.6bn of “secured and probable work”.

It said this represented 100% of its anticipated revenue for its current financial year, which started on 1 July.

Kier recently secured a spot on the Highways Agency’s much-anticipated £5bn major roads framework, as well as a range of school, hospital and commercial schemes.

It said operating margins remained “in line with expectation” in the construction division, at about 2%.

Kier said its services division had an order book of £3.7bn along with potential contract extensions worth in excess of £2bn.

Since 1 July, the division has picked up major schemes including £180M of work for the Canal & River Trust and a £100M job for Bristol Water.

Overall, the firm said it “remains on course to meet the Board’s expectations for the current financial year”. 

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