Builder Kier eyes an early start on Crossrail 2

Building firm Kier is hoping to cash in on the Government’s major infrastructure deals as boss Haydn Mursell welcomed George Osborne’s commitment to Crossrail 2.

Kier has been a big player in the first Crossrail scheme and hopes to be involved when the spades go in the ground for Crossrail 2.

The Chancellor announced £80 million in funding for the development of the north-south London link and although the completion of the project is more than a decade off, Kier could be involved at an earlier stage via its recently-acquired consulting business Mouchel.

Before then Kier has pre-qualified for enabling works packages on the HS2 rail project, worth £200 million each, and will potentially be in the running for the three main construction contracts, which could be worth £1 billion each.

Mursell said: “I’m always pleased when the Government states its commitment to the sector.”

Revenues leapt 32% to £2.1 billion in the six months to December, thanks to the Mouchel deal, while pre-tax profits rose 27% to £57.1 million. The interim dividend is up 12% to 21.5p.