Kier reports strong trading whilst awaiting OFT fine

Kier, the construction and housebuilding firm , has announced in its interim report that public sector work is helping it to continue steadily after a "good start" to its financial year.

Since July the company won £250 million in work under the Building Schools for the Future scheme with projects from councils in Bolton and Telford and Wrekin as well as £70 million in health projects.

The firm added that the private housing market had "stabilised" while its fast-growing support services business has a "long list of potential new contracts".

Kier has also prequalified for early contracts on the Crossrail east-west London rail link and is bidding for similar work in Hong Kong.The company's housebuilding business has meanwhile secured almost three-quarters of its planned sales for the year in completions and orders so far.

Social housing remains solid as long council waiting lists prompt an increase in schemes. Kier has won £56 million in new work from local authorities and registered social landlords which is due to start on site in the next year.