Kier has reported a 14% rise in revenues for the year to 30th June 2015, reaching 拢3.4bn (2014: 拢2.9bn).
Pre-tax profit of 拢39.5m was more than double the previous year鈥檚 拢15.4m, while underlying operating profit was up 19% to 拢103.7m (2014: 拢87.3m).
There were improvements across all operating divisions.
Revenue in the Construction division was up 15% to 拢1,721m (2014: 拢1,498m).聽 This resulted in an underlying operating profit increase of 25% to 拢37.7m (2014: 拢30.2m). Underlying operating margins were resilient at 2.2% (2014: 2.0%) and the working capital position has also improved, the company said.
The order book of secured and probable construction work stands at 拢3.3bn, which is equivalent to 95% of forecast revenue for the 2016 financial year.
The Services division saw revenue growth of 13% to 拢1,247m, margins steady at 4.7% and underlying operating profit up 9% to 拢58m.
The 拢265m acquisition of Mouchel in June has increased Construction and Services order book as at 30th June 2015 to 拢9.3bn (2014: 拢6.2bn).
In the Property division revenue was 拢126m (2014: 拢102m), up 24%, generating an underlying operating profit of 拢22.7m and delivering a return on capital employed (ROCE) in excess of 15%.
The Residential business, in its first full year operating as a new division, completed 2,130 new units, generated 拢257m revenue and 拢11.2m underlying operating profit.
Chief executive Haydn Mursell said: "Economic confidence is returning to our core markets and, furthermore, the acquisition of Mouchel represents a major step in accelerating the group's five-year strategy.
聽"All our divisions have performed well. In Property, the market remains strong and we have ample support from funders and other investors.聽 Following its expansion, our Residential division is well-placed to help address the national shortage of affordable housing. In Construction, the regional building business has an established position on public and private sector frameworks and our infrastructure business is benefiting from continued greater investment by the UK government in infrastructure in the medium term and internationally, the Middle East pipeline is strengthening.鈥�
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