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Kier shares slide as CEO to step down, successor named
(Sharecast News) - Shares in Kier Group fell almost 6% as chief executive Andrew Davies announced on Tuesday he was retiring at the end of October, with Stuart Togwell, the building firm's group managing director of construction named as replacement.
In a separate statement, Kier said full-year revenue and profit would be in line with the board's expectations, with a year-end order book of around £11.0bn, with 88% of revenue for fiscal 2026 secured.
Kier reported a 22% rise in net cash to £204m at the end of June compared with a year ago.
"Growth opportunities in the group's core markets continue to be underpinned by the Government's renewed investment commitments, to improving UK infrastructure and regulated UK assets," the company said.
Reporting by Frank Prenesti for Sharecast.com
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