[18], Five years later (1991) Hanson plc bought Beazer plc[19] and made an early decision to dispose of the contracting arm, now known simply as Kier. Find out more. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. Our information suggests that Kier Group plc insiders own under 1% of the company. Companies in this industry manage the operations of other companies or enterprises and may have an equity... See other industries within the Management of Companies & Enterprises Sector, See who the company's key decision makers are. This content is not approved for use by Primerica Representatives. [53] In a trading statement Kier said the rights issue had helped reduce year-end net debt to £130m compared with £239m at the end of the previous year; average month-end net debt for the six months to 31 December 2018 was £370m, as compared with £410m for the previous six months. [22], In 2009, Mivan Kier, Kier's Romanian joint venture with the Northern Irish group Mivan, which invested in real estate projects in Bucharest, requested bankruptcy protection due to debts of €20 million. The cost-cutting process begun in 2018 had cut 1,200 jobs with another 50 set to leave by 30 June 2020. That’s why 90% of the Fortune 500, and companies of all sizes around the world, rely on Dun & Bradstreet to help grow and protect their businesses. See insights on Costain including office locations, competitors, revenue, financials, executives, subsidiaries and more at … [40] The slide continued;[41] on 3 December shares were trading around 40% lower than before the rights issue announcement. Kier Group plc is a UK construction, services and property group active in building and civil engineering, support services, public and private housebuilding, land development and the Private Finance Initiative. We use cookies for marketing and advertising purposes, and to provide the best experience on our website. This was the subject of a management buyout in July 1992,[20] with Hanson retaining a 10 per cent stake. Kier Group plc ("Kier" or the "Company") announces that Simon Kesterton will be appointed to its board of directors (the "Board") as Chief Financial Officer Designate with effect from 26 August 2019 and will assume the role of Chief Financial Officer from 19 September 2019. [13], In the same period, only this time in the building sector, Kier were in the vanguard of new reinforced concrete systems for use as framework for tall buildings. [103], Kier was the main contractor in the failed DG One leisure centre in Dumfries. Kier Group General Information Description. See our Privacy Notice to unsubscribe. Consent is not a requirement of purchase. Then, during the 1950s, Olaf's nephew, Mogens Kier, joined the firm's management structure, but did not progress to a leading position in the company. [23][24], In 2013, Kier acquired the services firm May Gurney for £221 million,[25] becoming the then fourth largest contracting firm in the UK (behind Balfour Beatty, Carillion and Laing O'Rourke). [38], However, on 30 November, Kier announced a £264m rights issue, priced at 409p, to pay down net debts;[38] the announcement led to Kier shares dropping almost 33%,[39] cutting Kier's stock market value by £329m to £492m. [42] On 5 December, Kier was demoted from the FTSE 250 Index,[43] and its share price dropped below the rights issue price,[44][45] making it cheaper for investors to buy shares in the open market than in the rights issue, and leaving underwriters (Numis, Peel Hunt, Citigroup, HSBC and Santander) facing losses. © Dun & Bradstreet, Inc. 2000 - 2020. See similar companies for insight and prospecting. All financial statement data is in millions except per share data | Source: Morningstar, Detailed business credit reports and tools to simplify credit decisions and manage risk, Monitor, Manage, and Build Your Business Credit. Following an abortive bid for Abbey in 1985, French Kier itself was the subject of a hotly contested bid by Beazer, which eventually succeeded in January 1986. Kier Group has sounded out advisers about the potential to sell its house building division,according to the Times, which adds that the division is … [79] On 24 March 2020, as the financial impacts of the COVID-19 pandemic became clear, Kier's board of directors took a three-month 20% pay cut to mitigate the financial impact of the crisis, and warned employees' salaries might also be cut. [76] At the group's AGM in November 2019, shareholders objected to CEO Andrew Davies's £2.6m annual remuneration package and an associated long-term incentive scheme. Accounts. [9], Such specialist work was part of a pattern that quickly developed in the company's operations during that period, namely the undertaking of innovative, state-of-the-art civil engineering techniques at the forefront of modern technology. [86], On 17 September 2020, Kier announced a £225.5m loss on the year to 30 June 2020, on revenues down 15% to £3,476m. [21], In 1993 Kier decided to re-enter the housing market with the £30m acquisition of Twigden Homes. [6], A few years later Lotz withdrew from the company, but Olaf Kier retained a semblance of his identity by including Lotz's initials in the organisation's new name, J.L. [57][58], On 20 March 2019, Kier's half-year results showed a pre-tax loss of £35.5m in the second half of 2018 with revenues flat at £2,064m. These are further split into smaller companies. [56], On 11 March 2019, Kier revised its average net debt for the six months to December 2018 by over £50m from £130m to £180.5m, raising average month-end net debt over the period from £370m to £430m. ", "Kier targets £50m disposals to cut £375m debt", "Opening Quote: Kier determined not to be the next Carillion", "Kier raises £24m from Australian road business sell-off", "Rising debts force Kier to launch £264m rights issue", "London Market Close: FTSE 100 Ends Week In Red As G20 Summit Kicks Off", "Kier construction shares lose 30% on plan to raise cash", "Market report: Kier still on the ropes after shares suffer second knockdown", "Kier's shares plummet further in wake of rights issue", "Top News: Hiscox and Spirax-Sarco Engineering Promoted to FTSE 100", "Kier drops out of FTSE 250 as share price dives", "Kier shares sink below price set for rights issue", "Falling share price piles pressure on ailing Kier", "Underwriters hit as Kier £250m rights issue flops", "Less than 40% of shareholders take up Kier rights issue", "Kier investors shun efforts to raise £264m in funds", "Shareholders pushing for Kier chiefs to be ousted", "Embattled Kier picks chief left stranded by Carillion collapse", "Kier shares fall again as investors react to reports it will sell housing maintenance arm to cut debt", "Kier in talks to sell housing maintenance arm", "Kier admits to higher debts and Broadmoor losses", "Kier slumps to £35.5m loss as problem contracts continue", "Kier in profit warning as problems spread to building division", "Investors are taking a gamble on the Kier share price: here's what I'd do", "Kier shares plunge on report it wants to sell housing division", "Kier cutting 1,200 jobs and selling housing arm", "Kier Group to cut 1,200 jobs in attempt to avoid collapse", "Asset managers up bets against Kier share price", "Short sellers circle Kier Group as contractor's turmoil continues", "Kier dropped from major Leeds and London schemes", "Tycoon Hands wants to build new home with ailing Kier", "Kier Group plc: Appointment of Chief Financial Officer", "Kier warns of Brexit fallout after £245m loss", "Kier to sell historic country HQ to pay down debt", "Kier suffers shareholder revolt over chief's pay", "Kier board takes 20% pay cut for three months", "Kier pauses sale of housebuilding arm and cuts salaries", "Hands up for fresh effort to build future with Kier Living", "Kier closes Reading office with over 40 job losses", "Kier eyes rights issue as debt rises to £440m", "Gatwick Airport North Terminal Development", "The Lesotho Highland Water Development Project - What Went Wrong? Kier is a leading provider of construction and infrastructure services, providing specialist design and build capabilities. Kier & Co Ltd remained a private company until 1963 when it obtained a listing on the London Stock Exchange and became a public company. Kier Group Holdings, LLC operates as an investment holding company. The buyout firm Epiris is among a number of prospective bidders for nine Capita subsidiaries, Sky News learns. [70][72], On 19 September 2019, Kier announced a £245m pre-tax loss on revenues of £4.5bn for the year to 30 June 2019, resulting from £341m in impairment costs and write-downs related to preparing businesses for sale, restructuring and loss-making contracts. ... while Kier Group has also turned to … Kier Group plc is a UK construction, services and property group active in building and civil engineering, support services, public and private housebuilding, land development and the Private Finance Initiative. Credit building solutions to fit your growing business. WSP Global Inc. is a Canadian business providing management and consultancy services to the built and natural environment. Kier Group has 18,778 employees across 61 locations and £4.12 B in annual revenue in FY 2019. Its largest business is Kier Construction, which offers engineering and contracting services for a variety of building and infrastructure projects in the UK and overseas. [17], J.L. - The Companies", "Snowhill builder holding steady despite the crunch", "HS2 contracts worth £6.6bn awarded by UK government", "Construction blacklist compensation scheme opens", "Scottish Affairs - Seventh Report Blacklisting in Employment: Final Report", "Unite launches new round of blacklisting legal action", "Glasgow fires as devastating as IRA bomb in Manchester, says MP | Scotland", "DG One build inquiry - Dumfries and Galloway Council", "Kier outed as 'poor payer' at parliamentary inqury into small businesses", "Late-paying Kier suspended from Prompt Payment Code", "Kier Construction reinstated to Prompt Payment Code", "Kier Highways and Seddon readmitted to Prompt Payment Code", "Prompt payment redemption for Kier Integrated Services and FM Conway", Construction industry of the United Kingdom, Department for Communities and Local Government, Department for Business, Innovation and Skills, Chief Construction Adviser to UK Government, British Constructional Steelwork Association, Building Engineering Services Association, Civil Engineering Contractors Association, National Access and Scaffolding Confederation, National Federation of Demolition Contractors, SELECT (Electrical Contractors' Association of Scotland), Association for Environment Conscious Building, Building regulations in the United Kingdom, Development control in the United Kingdom, Town and country planning in the United Kingdom, https://en.wikipedia.org/w/index.php?title=Kier_Group&oldid=992814373, Construction and civil engineering companies of the United Kingdom, Construction and civil engineering companies established in 1928, Companies listed on the London Stock Exchange, Articles with dead external links from October 2017, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, This page was last edited on 7 December 2020, at 06:37. [8], During its first 35 years, Kier became identified with certain civil engineering specialisms, such as contiguous cylindrical reinforced concrete grain silos and cement silos, using continuously sliding formwork; commencing with those at Barking in 1929, followed by grain silos at Northampton, Peterborough, Melksham, Gloucester and Witham; and cement silos at Norwich, Cambridge, Trinidad, and in India. 1 August 2019 Kier Group plc Appointment of Chief Financial Officer . Shares were also subject to renewed 'shorting'. In 1973 Kier merged with W. & C. French to form French Kier but within the French division there were heavy losses on fixed-price motorway contracts and land development. [29][30][31] However, because Kier shared characteristics that contributed to Carillion's collapse - problem contracts, rising debts, and use of reverse factoring supply chain finance - City hedge funds began to 'short' Kier's shares; 10.9% were shorted by 30 August 2018,[32] later rising to 18%,[33] though Kier's position was not seen to be as risky as Carillion's. Kier Group provides a full range of construction and development services from more than 50 offices across the UK. [59] In a 3 June 2019 profit warning, Kier said operating profits would be £25m lower than previously expected,[60] causing its share price to fall over 40%[61] - trading at about 150p, less than half the rights issue price, on 6 June. See our, Free Microsoft Outlook plugin to drive efficiency with on-demand sales intelligence. This number is assigned once our patented identity resolution process, part of our DUNSRight, Learn about how a Dun & Bradstreet D-U-N-S number can help your company succeed, Establish your business, get noticed, and control your story in the global marketplace, Look up a partner’s company or find your company’s D-U-N-S Number, View and update business information on your D&B Credit file, A leading global provider of business decisioning data and analytics for almost 200 years, Live Business Identity is the most comprehensive and continually updated view of a business entity. [63] On 17 June, Kier confirmed the housing division sale, and said it would wind down its property business and planned to exit the facilities management and environmental services markets "in due course". The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. 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