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Given the order book strength and Kier’s framework positioning, approximately 85% of Group revenue for FY25 is said to be already secured.

The Group highlights that their chosen core markets are said to “remain attractive with future growth opportunities underpinned through the UK Government’s investment commitments to improving UK infrastructure and regulated UK assets”.

As part of the company’s infrastructure services, they were selected to work alongside United Utilities to help deliver their proposed £3 billion Asset Management Period 8 Framework for 5 years.

The framework is expected to deliver £100 million per annum of design, engineering, project management and construction services for water and wastewater infrastructure.

Andrew Davies, Chief Executive of Kier, commented, “The Group has had a strong year with volume and profit growth, increased orders and material deleveraging. We have enhanced our resilience and strengthened our financial position in line with the objectives set out in our medium-term value creation plan. Our order book remains strong and provides us with multi-year revenue visibility.

“The Group is well positioned to continue benefiting from UK Government and regulated sector infrastructure spending commitments and these strong structural drivers will allow us to further generate shareholder returns.”

The Group set a medium-term target to achieve a revenue of between £4 to £4.5 billion and said that they are to “deliver a strong set of results for the year ended 30 June 2024 against these targets.”