Construction group gives reassurances after rival’s demise
- Credit: Chris Biele
Construction and facilities group Kier has seen its shares jump by nearly a fifth after it offered reassurance over trading in the wake of Carillion's collapse.
Kier, which has sites at Mason Road, Norwich, and in Aylsham, has suffered hefty stock market swings since rival Carillion's shock demise.
But Kier enjoyed an 18% shares bounce-back after confirming that trading is in line with expectations and it remains on track for double-digit annual profit growth.
The group added contracts taken over from Carillion are 'performing well, operationally and financially'. Kier and partner Eiffage have taken over responsibility for the HS2 major rail project, while Kier has taken over the Highways England smart motorways scheme in which it was working with Carillion.
Kier closed its site at Trowse near Norwich last year, relocating the roles of 160 staff.
Some posts were relocated to other Norfolk offices, with others offered moves to either Bedfordshire or Manchester.