{"id":57915,"date":"2019-06-03T08:23:41","date_gmt":"2019-06-03T07:23:41","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=57915"},"modified":"2019-06-03T08:23:41","modified_gmt":"2019-06-03T07:23:41","slug":"kier-profit-warning-2019","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/","title":{"rendered":"Kier reports \u00a325m profit warning for 2019"},"content":{"rendered":"

Kier<\/a> has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m<\/h2>\n

In a trading statement today (3 June), Kier revealed that underlying profit for the year to 30 June 2019 would be \u00a325m less than its predictions.<\/p>\n

Kier continues to experience volume pressures within its Highways, Utilities and Housing Maintenance businesses.<\/p>\n

A trading statement said: \u201cIn addition, whilst continuing to perform well with double-digit growth in its orderbook during FY2019, the Buildings business’ revenue growth for FY2019 will be lower than previously forecast.\u201d<\/p>\n

Kier now expects that FY2019 revenue will report a net debt position, which would have an adverse impact on its FY2019 average month-end net debt position.<\/p>\n

The net costs associated with the FPK programme for FY2019 are now expected to be \u00a315m\u00a0higher than previously calculated. In part, this reflects an acceleration of the programme following the appointment of Andrew Davies as chief executive<\/a>.<\/p>\n

On 15 April 2019, Kier announced that Andrew Davies would lead a strategic review of the group to consider ways of further simplifying it, the allocation of capital resources across Kier and additional steps to improve cash generation and reduce leverage. Kier revealed that the conclusions of this review will be announced on 30 July 2019.<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Kier has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[676,283,472],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-57915","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction","8":"tag-finance","9":"tag-kier"},"acf":[],"yoast_head":"\nKier reports \u00a325m profit warning for 2019<\/title>\n<meta name=\"description\" content=\"Kier has said it expects underlying profit for FY2019 will be around \u00a325m below expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kier reports \u00a325m profit warning for 2019\" \/>\n<meta property=\"og:description\" content=\"Kier has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building & Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-03T07:23:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/06\/Kier-reports-\u00a325m-profit-warning-for-2019.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"413\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steph Blundell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Kier reports \u00a325m profit warning for 2019\" \/>\n<meta name=\"twitter:description\" content=\"Kier has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Steph_PBCToday\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\"},\"author\":{\"name\":\"Steph Blundell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\"},\"headline\":\"Kier reports \u00a325m profit warning for 2019\",\"datePublished\":\"2019-06-03T07:23:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\"},\"wordCount\":219,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Construction Processes\",\"Financing\",\"Kier\"],\"articleSection\":[\"Planning & Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\",\"name\":\"Kier reports \u00a325m profit warning for 2019\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2019-06-03T07:23:41+00:00\",\"description\":\"Kier has said it expects underlying profit for FY2019 will be around \u00a325m below expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Kier reports \u00a325m profit warning for 2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building & Construction Today\",\"description\":\"The Latest Planning, Building & Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\",\"name\":\"Steph Blundell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"caption\":\"Steph Blundell\"},\"description\":\"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk\",\"sameAs\":[\"https:\/\/www.pbctoday.co.uk\",\"https:\/\/www.linkedin.com\/in\/steph-blundell\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday\"],\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Kier reports \u00a325m profit warning for 2019","description":"Kier has said it expects underlying profit for FY2019 will be around \u00a325m below expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/","og_locale":"en_US","og_type":"article","og_title":"Kier reports \u00a325m profit warning for 2019","og_description":"Kier has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m","og_url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/","og_site_name":"Planning, Building & Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2019-06-03T07:23:41+00:00","og_image":[{"width":620,"height":413,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/06\/Kier-reports-\u00a325m-profit-warning-for-2019.jpg","type":"image\/jpeg"}],"author":"Steph Blundell","twitter_card":"summary_large_image","twitter_title":"Kier reports \u00a325m profit warning for 2019","twitter_description":"Kier has said it expects underlying profit for 2019 to be around \u00a325m below its expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m","twitter_creator":"@https:\/\/twitter.com\/Steph_PBCToday","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/"},"author":{"name":"Steph Blundell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb"},"headline":"Kier reports \u00a325m profit warning for 2019","datePublished":"2019-06-03T07:23:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/"},"wordCount":219,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Construction Processes","Financing","Kier"],"articleSection":["Planning & Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#respond"]}],"copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/","url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/","name":"Kier reports \u00a325m profit warning for 2019","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2019-06-03T07:23:41+00:00","description":"Kier has said it expects underlying profit for FY2019 will be around \u00a325m below expectations, as the cost of fixing the company\u2019s issues also rises by \u00a315m","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/kier-profit-warning-2019\/57915\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"Kier reports \u00a325m profit warning for 2019"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building & Construction Today","description":"The Latest Planning, Building & Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb","name":"Steph Blundell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","caption":"Steph Blundell"},"description":"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk","sameAs":["https:\/\/www.pbctoday.co.uk","https:\/\/www.linkedin.com\/in\/steph-blundell\/","https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday"],"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-09-30 15:32:46","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/57915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=57915"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/57915\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=57915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=57915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=57915"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=57915"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=57915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}