Kier is expected to deliver half-year results “slightly above” its expectations for the six months ended 31 December 2020, after it improved site productivity despite covid-19 restrictions.
The company said its results for the period would be “materially better” than the same period last year.
Kier, which is still attempting to sell its Kier Living housing arm, now expects to deliver £105m of cost savings by the end of its 2021 financial year.
However, its average month-end net debt for the six months to 31 December remained at a level similar to the average month-end net debt for the 2020 financial year.
Meanwhile, it has reduced supplier payment days from an average of 38 to 34, with all Kier companies now reinstated to the Prompt Payment Code.
In a trading update, Kier said it was “confident” for the group’s outlook with an order book that was “slightly above” year-end levels.
