Contractor Kier is conducting a “further review” into its construction division in response to the poor UK construction market, according to a trading statement out today.
The firm said with the UK market showing little “sign of improvement” the review was needed to ensure it was as “efficient as possible”.
Despite the difficult market the firm’s construction division has secured over £400M of new work since 1 July 2012 mainly through frameworks and similar arrangements in its statement covering 1 July to 15 November.
The firm’s order book stands at £2.1bn, representing 98% of forecasted revenue for the year up to 30 June 2013, and 53% for the following year. The firm is also seeing increased bidding activity overseas.
Kier’s services division has secured over £200M of new work and its property division has a £1.3bn work pipeline.