Plymouth Developments Boost Kier Group’s Results

Posted by Richard Ward in

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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."