Kier Group, a construction and infrastructure services company, announced on Thursday that it anticipates its fiscal 2023 results to be in line with management’s expectations, despite facing inflationary pressures. The company expresses confidence in its ability to effectively mitigate these pressures moving forward, while also reporting a rise in its order book.
For the fiscal year ending June 30, Kier Group expects to deliver a robust operational and cash performance. While they did not provide a specific figure, the company states that both revenue and profit are projected to meet their targets.
According to a consensus of three analysts from FactSet, fiscal 2023 revenue is expected to increase to £3.46 billion ($4.48 billion), compared to £3.26 billion in the previous year.
Kier Group also reveals that their year-end order book is set to surpass £10 billion, surpassing the £9.8 billion recorded in fiscal 2022. Furthermore, approximately 85% of the revenue projected for fiscal 2024 has already been secured.
Chief Executive Andrew Davies expressed satisfaction with the progress made on the company’s medium-term value creation plan. This plan has successfully instilled bidding discipline and risk management practices within the organization. Davies further emphasized that Kier Group is strategically positioned to maximize value and capitalize on the plethora of lucrative opportunities in their chosen markets, which remain favorable.