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Plymouth Developments Boost Kier Group’s Results

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

The construction firm behind the Beckley Point student development in Plymouth has seen its pre-tax profit jump to £126 million.

Kier Group employs more than 1,000 people across the South West and is in the process of completing the construction of the £29.5 million student accommodation scheme at Beckley Point.

The 23-storey tower will be one of the region's tallest buildings.

Keir Group has also been working on a number of other projects in Plymouth, which have contributed to the company reporting an 8% increase in pre-tax profit compared to the previous year.

The group also reported a 5% increase in revenue to £4.27 billion, while its order book rose from £8.7 billion to £9.5 billion.

Commenting on the results, chief executive Haydn Mursell, said: "Our underlying performance for the year was good.

"Having simplified our portfolio, the Group is more focused and able to pursue its growth ambitions in our three core markets; building, infrastructure and housing, which now represent 90 per cent of the Group's revenue and profit.

"We continue to invest in the business to improve our operational efficiency, providing a robust platform on which to take advantage of the strong long-term fundamentals in these core markets."