Kier sees current trading ahead of expectations as FY profits rise

(Sharecast News) - Infrastructure and construction group Kier said trading at the start of its current financial year was trading slightly ahead of expectations as it reported a 15% jump in profit for the 12 months to June 30. Pre-tax earnings came in at £78.1m while Kier's order book rose 2% to a record £11bn. On an adjusted basis, profit rose 3% to £125m.

"Kier remains well positioned to ... benefit from the UK government's 10-year Infrastructure Strategy spending commitments," the company said on Tuesday.

Reporting by Frank Prenesti for Sharecast.com