UPDATE 1-UK's Kier FY profit beats on strong order book [Reuters]
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Source: Reuters
UPDATE 1-UK's Kier FY profit beats on strong order book | Reuters 3 Min Read (Adds details from statement, analyst quote) Sept 20 (Reuters) - British construction and services company Kier Group said on Thursday a hefty order book lifted its underlying full-year pretax profit 9 percent, which was higher than expected. Underlying pretax profit rose to 137 million pounds ($180.1 million) in the year to June, from 126 million pounds a year earlier, said Kier, which works in sectors including defence, housing and mining in the UK, Australia, New Zealand and the Middle East. Analysts expected underlying pretax profit of 130.01 million pounds, according to Thomson Reuters I/B/E/S. Kier, which launched a cost-savings plan in July including the sale of non-core assets, said it expected profit and cash flow improvements of at least 20 million pounds in its full-year 2020, with proceeds of 30 million pounds to 50 million pounds from the disposals. Helped by demand in its construction and servic
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