Builder Kier set to up the tempo with new deals

Building firm Kier, which maintains Covent Garden’s Royal Opera House, is eyeing more deals following its £265 million swoop for road maintenance company Mouchel earlier this year.

Chief executive Haydn Mursell is “bedding in” the Mouchel business — retaining all of its customers.

But he is zeroing in on infrastructure maintenance and building, as well as affordable housing, as markets for “accelerated growth”.

Kier now boasts a £9.3 billion order book following contract wins including a five-year, £22.5 million deal with the Royal Opera House, including cleaning, repairs and security at Covent Garden and other sites.

Mursell also hopes to be in the shake-up for building work if the Royal Opera House succeeds in its ambitions to expand its main central London site.

Pre-tax profits for the year to June were up 17% to £85.9 million on turnover which rose 14% to £3.4 billion.

The company hopes to benefit from rising infrastructure spending and added that the Middle East market was strengthening.

The shares — up more than 30% since January — fell 61.5p to 1414.5p.