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Kier Group PLC Add to portfolio

LON250:KIE, Jun 06, 06:32 UTC

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Thursday, March 05


News

I think the Kier share price recovery could be on, as it soars 25%

KIE

Kier was famously backed by Neil Woodford, and many might have come to see that as the kiss of death. But investors are being drawn back, and the Kier price has climbed by more than 60% since mid-January. Nothing is for certain, mind, as shares in the construction company is still down nearly 90% over the past two years. But upbeat first-half figures gave Kier a 25% boost Thursday morning. Net debt at 31 December of £242.5m was said to be in line with expectations, but I think we need to look deeper than that. For one thing, that’s a 34% rise over the £180.5m figure reported a year prior. The post I think the Kier share price recovery could be on, as it soars 25% appeared first on The Motley Fool UK.

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British contractor Kier's cost-cuts help trim first-half losses

KIE

British contractor Kier's cost-cuts help trim first-half losses. (Reuters) - British contractor Kier Group <KIE.L> reported a smaller first-half loss on Thursday, benefiting from efforts to trim costs by simplifying its operations, sending its shares surging 11%. Kier has been striving to lower its debt burden by cutting jobs, shutting offices and selling some units to avoid the same fate as peers Carillion and Interserve. "The decisive cost actions we have taken are now benefiting the group and have more than compensated for the challenging market conditions we experienced in the period," Chief Executive Officer Andrew Davies said in statement.

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Kier share price ticks up post first-half results

KIE

You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Operating profit jumped by 11.4% to £46.7 million thanks to an improvement in operating margin to 2.5% from 2%. Kier has had to tighten its belt and the cost savings in the six-month period were £23 million, which is encouraging. Mr Moore was only in the role seven months so the news came as a surprise, and it sent the Kier share price tumbling. Since last summer the homebuilding division has been up for sale, but it is not a good look when the captain jumps ship.

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Friday, February 21


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How much would £1k invested in Kier shares 3 years ago be worth today?

KIE

Construction and services company Kier Group (LSE:KIE) has endured a dismal period since its drastic fall from grace in May 2019. But the problems started earlier than last year and the share price has fallen nearly 90% in the past three years. So a £1k investment three years ago would now be worth around £100. Its share price has almost doubled in a month, particularly after Prime Minister Boris Johnson gave the green light to the controversial HS2 high-speed rail link, for which Kier is a contractor. Last year’s annual report, released in September for the period to 30 June, stated it had tumbled to a pre-tax loss of £245m, from a £106m profit the previous year. But Kier’s biggest challenge is its debt pile. It means you are betting against a company, expecting it to fail. If the company share price falls, the individual who is shorting the stock makes a profit. However, if the company gets its act together and produces better than expected results, its share price will rise.

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Monday, February 17


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As the Kier share price jumps 10%, here’s what I’d do now

KIE

Investors following the Kier Group (LSE: KIE) share price will presumably have been pleased to see it picking up Monday morning. At one stage it had gained as much as 10% and, at the time of writing, the shares are still up a tasty 6.5% at 150p. In valuation terms, the current price puts Kier shares on a P/E multiple of just 3.4. And that’s way below what I’d expect to see from a healthy company in that sector. Kier was weighed down by average month-end net debt of £422m during the 2018/19 financial year. For a company forecast to make a pre-tax profit of only £89m in the current year, that’s not good.

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Friday, February 14


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Kier share price soars after HS2 green lit by PM Boris Johnson

KIE

Kier Group has seen its share price surge by more than 33% this week after the British Prime Minister Boris Johnson announced that he will press forward with the controversial HS2 rail project. Kier is trading at 136p as of 11:15 (GMT) on Friday, up from Monday’s opening price of 102p a share. Other British construction companies that have been contracted to carry out the HS2 project, including Balfour Beatty and Costain have seen their stock climb rise too, with the pair both up 9% to trade at 292p and 208p respectively. Balfour Beatty CEO Leo Quinn called the approval of the HS2 rail project a ‘bold’ move that will support the UK economy and help connect the country.

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Monday, February 10


News

Can the Kier share price double your money?

KIE

The Kier Group (LSE: KIE) share price has fallen by 94% over the last five years. During the last year alone, shareholders have seen the value of their holdings drop 80%. However, with a cost-cutting plan in progress and contract wins still rolling in, is it time to rethink? After all, Kier shares currently trade on just 2.3 times 2020 forecast earnings — a potential bargain if these wins can be sustained. According to boss Andrew Davies, the company is managing to cut costs while continuing “to win work from our customers”. And a highlight of the final six weeks of 2019 include being appointed to “all 20 lots of the four-year £8bn Procure Partnerships Framework” in November. As far as I can tell, this means that Kier is on a shortlist of approved contractors for future government contracts.

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Thursday, January 16


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Kier Group (LON:KIE) share price edges higher with turnaround plans on track

KIE IGG

The construction company said that its trading for the period from November 15 to December 31 was in line with its own guidance, with the company winning new contracts across all markets it operate in. ‘The work to re-shape the group continues through the careful execution of our strategic priorities and efforts to significantly reduce the group's cost base,’ Kier Group CEO Andrew Davies said. Analysts from Liberum Capital and Peel hunt remain optimistic about Kier, with the pair reiterating their ‘buy’ ratings for the stock in January. However, analysts from US-based investment bank Jefferies set a ‘hold’ rating for the stock and downgraded their price target on its shares from 110p to 100p, implying a potential upside of 28.2%. IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations.

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Thursday, November 28


News

What does shareholder revolt mean for the Kier Group share price?

KIE

At its annual general meeting (AGM), Kier shareholders rejected the directors’ pay report after it emerged CEO Andrew Davis could be set to receive more than £1m in bonuses, despite the company itself offering only profit warnings and a falling share price. Kier Group has seen its share price fall about 90% over the past year, leaving its valuation at less than £200m from a height of over £1bn. What is worse, the company has announced it may be forced to let go 1,200 of its 19,000 workforce by next June. Kier paid its board about £2.1m for the full-year to June, which admittedly is far less than the £5.5m paid the previous year (lower as the company did not pay any bonuses for the year 2018–19), but still hard to justify when it reported losses of £245m. Of fundamentally even more concern for Kier Group however, is talk recently that its lenders have been selling off their debt in the company for as little as 70 pence on the pound. When lenders are willing to take such a large hit on the money a company owes them, it is not a great indication of their expectations for that firm.

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Tuesday, November 26


News

Will the Kier (LON:KIE) share price ever recover?

KIE

Kier Group saw its share price hit an all-time low of 61p in July, with investors fearing that the company would follow in the footsteps of its rival Carillion which collapsed in January last year in what was the largest ever trading liquidation in the UK. Since then, the share price has recovered slightly, up 25% since its July low to trade at 86p levels as of 16:20 GMT on Tuesday. BlackRock Investment Management, TT International and GLG Partners all reduced their short positions by -0.13 (remaining short position held 1.26%), -0.14 (1.68%) and -0.86% (1.73%) respectively, according to data compiled by the Financial Conduct Authority. You can go long or short Kier Group with IG using derivatives like CFDs and spread bets. Kier Group continues to progress with its turnaround strategy, with the company on course to deliver a headcount reduction of around 1,200 by 30 June 2020 and annual cost savings of at least £55 million in the financial year ending 30 June 2021, according to its latest trading update.

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