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Kiers profits up

BETTER MARGINS in Britain and a strong overseas performance boosted Kiers profits during the first half of its current financial year according to results published last week.

Kiers construction division increased operating profits to 1.2M from 900,000 in the six months to 31 December 1997 while turnover fell slightly from 310.8M to 310.2M.

Group pre-tax profits rose from 3.1M to 3.9M on turnover down from 337.6M to 336.2M.

Strong performances in the Caribbean and Hong Kong helped Kiers overseas activities turn a first half operating loss of 100,000 into a profit of 500,000. Overseas turnover fell from 41.2M to 31.3M.

Finance director Duncan Brand said the British construction market was strong but expressed concern about prospects for the civil engineering sector should the Channel Tunnel Rail Link be cancelled or built in phases.

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