| Item | 2015 result | % rise from 2014 |
|---|---|---|
| Group pretax profit | £39.5m | 156 |
| Property operating profit | £22.7m | 42 |
| New homes completed | 2,130 | 35 |
Kier Group, the construction and development giant, has posted significant growth in pretax profits, underpinned by a significant contribution from its property arm.
The group achieved a £39.5m pretax profit, up from £15.4m in 2014.
The property divisions reported an increase in underlying operating profits of 42% to £22.7m, up from £16m in 2014, delivering a return on capital employed of more than 15%.
The group’s residential division also grew substantially, completing 2,130 new homes in the year, up by 35% on 2014.
Kier Group chief executive Haydn Mursell said: “In property, the market remains strong and we have ample support from funders and other investors. Following its expansion, our residential division is well-placed to help address the national shortage of affordable housing.”
