Kier share price slumps as lenders ‘seek to offload debt’ November 4, 2019 Kier’s share price slumped seven per cent today following a report alleging lenders are trying to pass on its debt to hedge funds. Kier fell 8.4 per cent to 107.6p in early trading, with HSBC supposedly marketing the firm’s debt for as little as 70p in the pound. Read more: Kier lenders ‘try to offload [...]
Kier Group lenders ‘trying to offload outsourcer’s debt’ November 3, 2019 The lenders of construction outsourcer Kier Group are said to be trying to offload its debt to hedge funds, in a sign they think the risk of another corporate collapse in the embattled sector is increasing. HSBC and other lenders to the troubled FTSE 250 company are reportedly marketing the debt for as little as [...]
Kier Group turnaround ‘heading in right direction’ despite crashing to £245m loss September 19, 2019 Kier Group’s stock recovered to finish up 1.1 per cent today as shareholders appeared cautiously optimistic about its pricey turnaround plan. The struggling outsourcer staggered to a £245m loss in its latest full year, but trimmed its net debt by more than 10 per cent to £167m. Read more: Kier suspends dividend and unveils plan [...]
Kier shares soar 40 per cent as it chips away at debt pile August 1, 2019 Kier Group investors rejoiced this morning as they were treated to a rare piece of good news: that the firm is regaining control of its debt. The firm also said it had attracted “significant interest” in its house building arm, which it is trying to sell to reduce its debt. Read more: Kier shares plunge [...]
Short sellers circle Kier Group as contractor’s turmoil continues July 15, 2019 Five hedge funds have raised their bets against Kier Group in the last month to make the troubled contractor the most-shorted stock on the market. Funds including Blackrock, Marshall Wace and Kuvari Partners hold a combined 10.9 per cent of Kier’s stock, according to regulatory filings. Read more: ‘In a dark place’: Kier shares plummet [...]
‘In a dark place’: Kier shares plummet 40 per cent after embattled outsourcer gives £25m profit warning June 3, 2019 Kier Group shares have suffered a fresh blow this morning, dropping more than a third as the troubled outsourcer reels from its latest profit warning. The construction and services company, which is listed as one of the government’s top external suppliers of public services, shocked investors this morning with the news operating profit will be [...]
Kier finance boss steps down after year of money worries for construction firm May 7, 2019 Shares in embattled construction outsourcer Kier Group fell sharply this morning after it announced its finance boss will quit later this year. Read more: Kier to build £253m prison for Ministry of Justice Bev Dew, who earlier this year stayed in post amid the ousting of chief executive Haydn Mursell by a rebel shareholder group, [...]
Kier Group to build Northamptonshire prison for Ministry of Justice in £253m deal May 1, 2019 Construction outsourcer Kier Group has been tasked with building a Northamptonshire prison which will house more than 1,500 inmates, in a £253m contract award. Read more: Holloway prison to be turned into 1,000 homes after £81.5m sale The Ministry of Justice (MoJ) said the new facility in Wellingborough will be on the same site as [...]
Kier’s new chief executive looks to simplify company as outsourcer battles debt April 15, 2019 Kier Group’s new chief executive will look at simplifying the business in the coming months as the construction outsourcer continues battling hundreds of millions of pounds of debt. Read more: Kier shares fall as outsourcer swings to £35.5m loss Andrew Davies, who was elected boss of collapsed outsourcer Carillion before it went bust in January [...]
Kier shares fall as outsourcer swings to £35.5m loss March 20, 2019 Kier has fallen to a £35.5m loss for the second half of 2018, but said it is in a stronger position after hitting up investors for £250m in a disastrous rights issue that missed its target at the end of last year. Read more: Embattled outsourcer Kier's net debt spirals again after 'accounting error' The figures [...]