StockMarketWire.com - Construction and infrastructure services company Kier warned the Covid-19 pandemic would continue to affect volumes and result in additional costs, but said it remained 'confident' its outlook for fiscal 2021.

Since its trading update of 30 March, Covid-19 had adversely affected the company's revenue and resulted in it incurring additional costs, some of which were expected to be treated as exceptional, the company said.

As at 31 May 2020, its order book was about £7.6bn; 60% of its core construction infrastructure services' businesses' order book related to work for government departments and a further 25% related to the provision of services to regulated entities, Kier group said.

'Almost all of the group's sites are now open and the group is focusing on driving on-site operational efficiencies, whilst working in accordance with new site operating procedures,' the company said.

The company said it now anticipated cost savings of about £100m in the financial year ending 30 June 2021.

At 8:37am: [LON:KIE] Kier Group PLC share price was -9.5p at 88.05p



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