Highways England Areas 3 and 9 contract extensions
10 July 2018
KIER GROUP PLC
Kier secures two three-year extensions to Highways England Areas 3 and 9 contracts worth c.£250m p.a.
Kier Group plc ("Kier"), a leading infrastructure services, buildings and developments & housing group, confirms that it has secured three-year extensions on its Highways England Areas 3 and 9 contracts, with a total value of c.£250m per annum.
These contracts provide routine highway maintenance services, repairs to defects, emergency incident response services and severe weather services on the Highways England road network. Further information about the contracts is as follows:
· Area 3: this contract covers major roads in Hampshire, Berkshire, parts of Surrey, Buckinghamshire, Oxfordshire and Dorset. Kier has held the contract since 2008 and it has been extended to October 2021; and
· Area 9: this contract covers major roads in Herefordshire, Worcestershire, Warwickshire, Staffordshire and Shropshire as well as parts of Gloucestershire, Derbyshire and Leicestershire. Kier has held the contract since 2014 and it has been extended to June 2022. Area 9 is the largest Area within Highways England's network.
The extensions will allow Highways England to deliver a phased roll-out of its full asset delivery model which it is committed to implementing across its entire network.
Kier Group's Chief Executive, Haydn Mursell, commented; "These extensions reflect the Group's market leading position in the highways maintenance sector and the successful work our teams have undertaken on behalf of Highways England over a number of years. We are delighted to be continuing to collaborate with Highways England and our supply chain to provide a high-quality service to the public."
- E N D S -
For further information, please contact:
Louise Turner-Smith, Kier investor relations +44 (0)07976 790012
Kier press office +44 (0)1767 355903
Richard Mountain/Nick Hasell, FTI Consulting +44 (0) 20 3727 1340
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This announcement does not constitute an offer of securities by Kier Group plc (the "Company"). Nothing in this announcement is intended to be, or intended to be construed as, a profit forecast or a guide as to the performance, financial or otherwise, of the Company or any of its subsidiaries (together, the "Group") whether in the current or any future financial year. This announcement may include statements that are, or may be deemed to be, ''forward-looking statements''. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's or the Group's ability to control or predict. Forward-looking statements are not guarantees of future performance. You are advised to read the section headed ''Principal risks and uncertainties'' in the Company's Annual Report and Accounts for the year ended 30 June 2017 for a further discussion of the factors that could affect the Company's or the Group's future performance and the industry in which it operates. Other than in accordance with its legal or regulatory obligations, the Company does not accept any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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