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United Kingdom

Kier Group PLC (KIE.L)

KIE.L on London Stock Exchange

112.50GBp
23 Aug 2019
Change (% chg)

1.40 (+1.26%)
Prev Close
111.10
Open
111.50
Day's High
117.20
Day's Low
110.50
Volume
1,095,567
Avg. Vol
2,535,432
52-wk High
1,109.47
52-wk Low
58.40

Latest Key Developments (Source: Significant Developments)

Kier Reappointed To 200 Mln Stg Hampshire County Council ICF For Projects Valued Up To 4 Mln Stg
Monday, 15 Jul 2019 

July 15 (Reuters) - Kier Group PLC ::KIER - REAPPOINTED TO £200M HAMPSHIRE COUNTY COUNCIL INTERMEDIATE CONSTRUCTION FRAMEWORK (ICF) FOR PROJECTS VALUED UP TO £4M.  Full Article

St. James's Place Cuts Stake To Less Than 3% From 3.8% In Kier As Of July 5 - Filing
Monday, 8 Jul 2019 

July 8 (Reuters) - Kier Group PLC ::ST. JAMES'S PLACE PLC GROUP OF COMPANIES CUTS STAKE TO LESS THAN 3% FROM 3.8% IN KIER GROUP PLC AS OF JULY 5 - FILING.  Full Article

Kier Group To Reduce Headcount by 1,200, Suspends Dividend For FY19 & FY20
Monday, 17 Jun 2019 

June 17 (Reuters) - Kier Group PLC ::STRATEGIC REVIEW CONCLUSIONS & INDEBTEDNESS UPDATE.CONCLUSIONS OF STRATEGIC REVIEW, SIGNIFICANT REFOCUSING OF KIER AND UPDATE ON INDEBTEDNESS.FUNDAMENTALLY RESTRUCTURE GROUP TO REDUCE HEADCOUNT BY C.1,200 AND DELIVER ANNUAL COST SAVINGS OF C.£55M FROM FY2021.ANNOUNCING A NEW STRATEGY FOR GROUP THAT WILL FOCUS ON REGIONAL BUILDING, INFRASTRUCTURE, UTILITIES AND HIGHWAYS.KIER LIVING IS NON-CORE AND HAS COMMENCED A PROCESS TO SELL BUSINESS.KIER HAS RECEIVED A NUMBER OF INBOUND EXPRESSIONS OF INTEREST IN KIER LIVING.COSTS OF DELIVERING PROGRAMME ARE EXPECTED TO BE C.£28M DURING FY2019 AND C.£28M DURING FY2020.IS SUSPENDING DIVIDEND PAYMENTS FOR FY2019 AND FY2020..INVESTMENT REQUIREMENTS OF PROPERTY BUSINESS ARE INCOMPATIBLE WITH GROUP'S CAPITAL REQUIREMENTS.WILL ACCELERATE A REDUCTION IN LEVEL OF CAPITAL INVESTED IN BUSINESS, WHICH MAY EXTEND TO ITS SALE.AVERAGE LEVEL OF CAPITAL ALLOCATED TO PROPERTY BUSINESS IS EXPECTED TO BE REDUCED TO £100M IN FY2020.HAS COMMITTED DEBT FACILITIES OF £920M.CONCLUDED KIER'S FACILITIES MANAGEMENT AND ENVIRONMENTAL SERVICES BUSINESSES HAVE LIMITED OPERATIONAL SYNERGIES WITH KIER'S CORE BUSINESSES.KIER'S HOUSING MAINTENANCE AND MIDDLE EAST CONSTRUCTION BUSINESSES WILL BE RETAINED BY GROUP.REPORTED NET DEBT AT 30 JUNE 2019 BEING HIGHER THAN CURRENT MARKET EXPECTATIONS, INCREASE IN FY2019 AVERAGE MONTH-END NET DEBT TO £420M-£450M.  Full Article

Kier Group Sees Fy2019 Underlying Oper Profit About £25 Mln Lower Than Previous Expectations
Monday, 3 Jun 2019 

June 3 (Reuters) - Kier Group PLC ::KIER GROUP PLC - UPDATE ON TRADING, FPK PROGRAMME, STRATEGIC REVIEW.KIER GROUP PLC - CONTINUES TO EXPERIENCE VOLUME PRESSURES WITHIN ITS HIGHWAYS, UTILITIES AND HOUSING MAINTENANCE BUSINESSES.KIER GROUP PLC - NOW EXPECTS THAT FY2019 REVENUE WILL BE BROADLY IN LINE WITH GROUP'S REPORTED REVENUE FOR 2018 FINANCIAL YEAR.KIER GROUP PLC - BUILDINGS BUSINESS' REVENUE GROWTH FOR FY2019 WILL BE LOWER THAN PREVIOUSLY FORECAS.KIER GROUP PLC - CURRENTLY EXPECTS THAT GROUP'S UNDERLYING OPERATING PROFIT FOR FY2019 WILL BE C. £25 MILLION LOWER THAN PREVIOUS EXPECTATIONS.KIER GROUP PLC - KIER WILL PROVIDE UPDATED GUIDANCE FOR FY2020 WITH ITS FY2019 PRELIMINARY RESULTS ANNOUNCEMENT ON 19 SEPTEMBER 2019..KIER - LIKELY TO REPORT A NET DEBT POSITION AS AT 30 JUNE 2019, WHICH WOULD HAVE AN ADVERSE IMPACT ON ITS FY2019 AVERAGE MONTH-END NET DEBT POSITION.KIER GROUP PLC - NET COSTS ASSOCIATED WITH FPK PROGRAMME FOR FY2019 ARE NOW EXPECTED TO BE C. £15 MILLION HIGHER THAN PREVIOUSLY FORECAST.KIER GROUP PLC - CONCLUSIONS OF STRATEGIC REVIEW WILL BE ANNOUNCED ON 30 JULY 2019.  Full Article

Kier Group Says Co Re-Appointed To Western Power Distribution's South West Framework
Monday, 20 May 2019 

May 20 (Reuters) - Kier Group PLC ::RE-APPOINTMENT TO WESTERN POWER DISTRIBUTION'S SOUTH WEST FRAMEWORK.C.£70M 3-YEAR FRAMEWORK WITH POSSIBLE 2 YEAR EXTENSION TO SEE UTILITIES BUSINESS DELIVER EXCAVATION, CABLE LAYING, REINSTATEMENT SERVICES.  Full Article

Kier Says Andrew Davies Will Lead Strategic Review Of Group
Monday, 15 Apr 2019 

April 15 (Reuters) - Kier Group PLC ::APPOINTMENT OF CHIEF EXECUTIVE & STRATEGIC REVIEW.ANDREW DAVIES HAS TODAY JOINED AS CHIEF EXECUTIVE AND THAT PHILIP COX HAS RESUMED ROLE OF NON-EXECUTIVE CHAIRMAN.ANDREW DAVIES HAS TODAY JOINED AS CHIEF EXECUTIVE.PHILIP COX HAS RESUMED ROLE OF NON-EXECUTIVE CHAIRMAN.ANDREW DAVIES WILL LEAD A STRATEGIC REVIEW OF GROUP.  Full Article

Woodford Investment Management Discloses 18.14 Pct Stake In Kier Group As Of April 9 - Filing
Wednesday, 10 Apr 2019 

April 10 (Reuters) - Kier Group PLC ::WOODFORD INVESTMENT MANAGEMENT LTD DISCLOSES 18.14 PERCENT STAKE IN KIER GROUP PLC AS OF APRIL 9 VERSUS PRIOR STAKE OF 17.06 PERCENT - FILING.  Full Article

Woodford Investment Management Discloses 17.06 Pct Stake In Kier Group - Filing
Tuesday, 2 Apr 2019 

April 2 (Reuters) - :WOODFORD INVESTMENT MANAGEMENT DISCLOSES 17.06% STAKE IN KIER GROUP - FILING.  Full Article

Kier Names Andrew Davies As CEO
Tuesday, 19 Mar 2019 

March 19 (Reuters) - Kier Group PLC ::APPOINTMENT OF CHIEF EXECUTIVE.APPOINTS ANDREW DAVIES AS CEO.APPOINTMENT OF ANDREW DAVIES AS CHIEF EXECUTIVE WITH EFFECT FROM 15 APRIL 2019.WITH EFFECT FROM 15 APRIL 2019, PHILIP COX WILL RESUME HIS ROLE AS NON-EXECUTIVE CHAIRMAN.DAVIES WAS ANNOUNCED AS CHIEF EXECUTIVE OF CARILLION PLC.  Full Article

Kier Group Says Revised Net Debt Position As At 31 December 2018 To 180.5 Mln Stg
Monday, 11 Mar 2019 

March 11 (Reuters) - Kier Group PLC ::UPDATE.CONTINUES TO FORECAST A NET CASH POSITION AT 30 JUNE 2019 AND REMAINS FOCUSED ON REDUCING ITS AVERAGE MONTH-END NET DEBT.REMAINS ON COURSE TO MEET UNDERLYING FY19 EXPECTATIONS, WITH FY RESULTS BEING WEIGHTED TOWARDS SECOND-HALF OF FINANCIAL YEAR, AS EXPECTED.HAS RE-CALCULATED ITS AVERAGE MONTH-END NET DEBT FOR SIX MONTHS ENDED 31 DECEMBER 2018 AS BEING C.£430M (FROM C.£370M).REVISED ITS NET DEBT POSITION AS AT 31 DECEMBER 2018 TO £180.5M (FROM C.£130M).  Full Article

Woodford struggles to build bridges with UK financial advisers

LONDON, Aug 23 With his flagship 3.7 billion pound ($4.5 billion) fund frozen, money manager Neil Woodford has been travelling around Britain trying to convince independent financial advisers (IFAs) his firm remains a good long-term bet.