CONSTRUCTION and housebuilding firm Kier said a raft of public sector work was helping it ride out recession after a “good start” to its financial year.
Since July, the company has landed £250m in work under the Building Schools for the Future scheme well as £70m in health projects.
The firm said that the private housing market had “stabilised” while its fast-growing support services business has a “long list of potential new contracts”.
Bedfordshire-based Kier’s strong start comes despite a £17.9m fine from the Office of Fair Trading for anti-competitive practices – the largest individual penalty among fines totalling £129.5m for 103 firms.
Kier is considering contesting the decision and has until November 22 to lodge its appeal.
Kier has also pre-qualified for early contracts on the Crossrail east-west London rail link and is bidding for similar work in Hong Kong.
Keir’s housebuilding business has secured almost three-quarters of its planned sales for the year in completions and orders so far.
But it said the shortage of mortgages meant the housing marketing remained “fragile”.