Kier Group to build Northamptonshire prison for Ministry of Justice in £253m deal May 1, 2019 Construction outsourcer Kier Group has been tasked with building a Northamptonshire prison which will house more than 1,500 inmates, in a £253m contract award. Read more: Holloway prison to be turned into 1,000 homes after £81.5m sale The Ministry of Justice (MoJ) said the new facility in Wellingborough will be on the same site as [...]
Kier’s new chief executive looks to simplify company as outsourcer battles debt April 15, 2019 Kier Group’s new chief executive will look at simplifying the business in the coming months as the construction outsourcer continues battling hundreds of millions of pounds of debt. Read more: Kier shares fall as outsourcer swings to £35.5m loss Andrew Davies, who was elected boss of collapsed outsourcer Carillion before it went bust in January [...]
Kier shares fall as outsourcer swings to £35.5m loss March 20, 2019 Kier has fallen to a £35.5m loss for the second half of 2018, but said it is in a stronger position after hitting up investors for £250m in a disastrous rights issue that missed its target at the end of last year. Read more: Embattled outsourcer Kier's net debt spirals again after 'accounting error' The figures [...]
Former Carillion man takes the reins at embattled Kier Group March 19, 2019 The man who was once named the new leader of Carillion has taken the reins at Kier Group, the construction firm confirmed this morning. Andrew Davies, appointed Carillion’s new chief executive just months before it went out of business, will take up his new role form 15 April, Kier said. Read more: Embattled outsourcer Kier's net debt [...]
Embattled outsourcer Kier shares plunge as ‘accounting error’ reveals higher net debt than previously thought March 11, 2019 Construction outsourcer Kier Group spooked investors on Monday morning as it admitted an 'accounting error' had forced it to recalculate its net debt as £50m higher than previously stated. The firm’s stock fell 13 per cent after it issued an update saying it has revised its net debt position as at 31 December to £180.5m, up from [...]
Troubled outsourcer Kier’s share price rises as it appoints Scottish director February 12, 2019 Shares ticked upwards at embattled construction outsourcer Kier this morning as it announced a new operations director in Scotland. Phil McDowell, who joined the contractor as a contract manager in 2013, will take control of the firm’s work north of the border. Read more: Kier defies woes with £37m high-rise contract win Shares were up 2.4 [...]
Kier Group defies gloom with north London high-rise contract win worth £37m February 5, 2019 For all its financial troubles, Kier Group continues to win construction contracts in the capital, having been tasked with building a large residential development in north London. Kier has this morning been tasked with building a £37.2m 22-floor high-rise in Haringey which will contain 128 residential flats, by housing association Newlon Housing Trust. Read more: [...]
Construction in crisis: Where did it all go wrong for Kier? January 29, 2019 Construction outsourcer Kier Group has had a tricky few months. First, it became the most shorted stock on the market, with hedge funds drawing direct comparison to failed competitor Carillion. Since then, it has bungled a rights issue, lost its chief executive and seen its share price plummet more than 39 per cent. Morning Wire tracks [...]
Kier shares fall again as investors react to reports it will sell housing maintenance arm to cut debt January 28, 2019 Shares in troubled outsourcer Kier Group were down four per cent this morning on yesterday’s news it is to sell off its housing maintenance business in a bid to cut hundreds of millions of pounds worth of debt. The construction firm, whose chief executive left last week after sustained pressure from high-profile shareholder Neil Woodford, declined [...]
Kier Group negotiating sale of its housing maintenance business in a bid to reduce debt January 27, 2019 Kier Group, the troubled outsourcing company, is nearing an agreement to sell its housing maintenance division. The deal, if agreed, would be part of a previously announced plan to shore up the balance sheet of the construction and building services provider by selling non-core assets. Read more: Short sellers release pressure on construction outsourcing giant Kier [...]