Kier Group PLC - Manchester, England-based infrastructure services, construction and property - Tells annual general meeting on Thursday that financial 2024 has ‘started well’. Trading is ahead of a year before and in line with board expectations. Similar to financial 2023, which ended June 30, results are expected to be weighted to the second half. Its order book stands at £10.5 billion at the end of October, up from £10.1 billion on June 30. This means 91% of estimated financial 2024 revenue is secured, up from 85% in July.

Kier says it remains on track to resume dividend payments in financial 2024, beginning with an interim payout. Kier hasn’t paid a dividend since a 4.9 pence per share interim payout for financial 2019.

‘We remain well positioned to continue benefiting from UK government infrastructure spending commitments,’ says Chief Executive Andrew Davies, ‘and we remain focused on the delivery of a sustainable net cash position with capacity to invest, in line with our medium-term value creation plan.’

Current stock price: 104.20 pence, down 1.7% in London on Thursday

12-month change: up 71%

Copyright 2023 Alliance News Ltd. All Rights Reserved.