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Kier Group Annual Report and Accounts for the Year

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Kier Group Annual Report and Accounts for the Year KIER G Kier Group plc CONTENTS Tempsford Hall, Sandy Bedfordshire SG19 2BD ro 01 Group highlights 40 Financial statements 83 Company balance sheet UP 02 Chairman’s statement 41 Directors’ report 84 Notes to the Company financial Tel: 01767 640111 P 04 42 Chief executive’s review Corporate governance statement statements L Fax: 01767 640002 C 27 Corporate responsibility 45 Directors’ remuneration report 86 Principal operating subsidiaries 34 Financial review 50 Statement of directors’ responsibilities and business units www.kier.co.uk A NN 37 Business risks 51 Independent auditors’ report to the 87 Principal joint arrangements and U 38 Board members members of Kier Group plc joint ventures AL 52 88 Consolidated income statement Financial record RE 53 Consolidated statement of ibc Corporate information P ort recognised income and expense 54 Consolidated balance sheet AN 55 Consolidated cash flow statement D 56 Notes to the consolidated financial acco statements U NTS 2008 For the latest information on Kier Group plc, visit our website: www.kier.co.uk Homepage Investor relations www.kier.co.uk www.kier.co.uk/ir Corporate responsibility Total solutions www.kier.co.uk/responsibility www.kier.co.uk/total_solutions Annual Report UNITED KINGDOM SUPREME COURT, PARLIAMENT SQUARE, LONDON AND accounts INTEGRATED EXCELLENCE Good progress has been made by Kier Group on the renovation of the Middlesex Guildhall in 2008 INDIVIDUAL FLAIR Parliament Square, London, to deliver the new United Kingdom Supreme Court for the Ministry of Justice in 2009. The project is spearheaded by Kier KIER GROUP PLC Property, Kier’s development arm, and its historic building refurbishment specialist, Wallis, is acting as main contractor. Kier Engineering Services, part of Kier Support Services, has also provided structural engineering technical support for the project. KIER G Kier Group plc CONTENTS Tempsford Hall, Sandy Bedfordshire SG19 2BD ro 01 Group highlights 40 Financial statements 83 Company balance sheet UP 02 Chairman’s statement 41 Directors’ report 84 Notes to the Company financial Tel: 01767 640111 P 04 42 Chief executive’s review Corporate governance statement statements L Fax: 01767 640002 C 27 Corporate responsibility 45 Directors’ remuneration report 86 Principal operating subsidiaries 34 Financial review 50 Statement of directors’ responsibilities and business units www.kier.co.uk A NN 37 Business risks 51 Independent auditors’ report to the 87 Principal joint arrangements and U 38 Board members members of Kier Group plc joint ventures AL 52 88 Consolidated income statement Financial record RE 53 Consolidated statement of ibc Corporate information P ort recognised income and expense 54 Consolidated balance sheet AN 55 Consolidated cash flow statement D 56 Notes to the consolidated financial acco statements U NTS 2008 For the latest information on Kier Group plc, visit our website: www.kier.co.uk Homepage Investor relations www.kier.co.uk www.kier.co.uk/ir Corporate responsibility Total solutions www.kier.co.uk/responsibility www.kier.co.uk/total_solutions Annual Report UNITED KINGDOM SUPREME COURT, PARLIAMENT SQUARE, LONDON AND accounts INTEGRATED EXCELLENCE Good progress has been made by Kier Group on the renovation of the Middlesex Guildhall in 2008 INDIVIDUAL FLAIR Parliament Square, London, to deliver the new United Kingdom Supreme Court for the Ministry of Justice in 2009. The project is spearheaded by Kier KIER GROUP PLC Property, Kier’s development arm, and its historic building refurbishment specialist, Wallis, is acting as main contractor. Kier Engineering Services, part of Kier Support Services, has also provided structural engineering technical support for the project. OPERATIONAL HIGHLIGHTS 2008 CORPorate INFORMation Integrated excellence: The combined skills of our businesses enable us to deliver a wide Individual flair:Kier Group comprises five divisions: Construction, Support Services, range of development schemes through a single source, including property developments, Homes, Property and Infrastructure Investment. regeneration projects, mixed-use schemes and PFI projects. Kier Strategic Alliances coordinates the Group’s delivery of national frameworks for single market sectors Directors Auditors P M White CBE FCA Chairman KPMG Audit Plc and customers. A selection of our framework projects F is highlighted throughout. J Dodds Chief Executive 8 Salisbury Square I M Lawson FCIOB London D E Mattar BSc FCA EC4Y 8BB STRATEGIC ALLIANCES & FRAMEWORKS M P Sheffield BSc CEng MICE Bankers R W Side FCIOB FFB MCMI Bank of Scotland R W Simkin BSc MRTPI KIER HEALTH KIER EDUCATION KIER CUSTODIAL KIER RETAIL LOCAL & CENTRAL CONSTRUCTION SUPPORT SERVICES HOMES PROPERTY INFRASTRUCTURE New Uberior House C V Geoghegan BA FRAeS GOVERNMENT INVESTMENT 11 Earl Grey Street www.kier.co.uk/kierhealth www.kier.co.uk/kiereducation www.kier.co.uk/kiercustodial www.kier.co.uk/kierretail FRAMEWORKS www.kier.co.uk/construction www.kier.co.uk/supportservices www.kier.co.uk/homes www.kier.co.uk/property www.kier.co.uk/projectinvestment S W Leathes MA FCA Edinburgh M D Barton LLB Secretary EH3 9BN > NHS ProCure 21 > Building Schools for > Ministry of Justice > Waitrose Limited the Future (BSF) Custodial Properties: > Tesco plc www.kier.co.uk/ governmentframeworks Headquarters and Registered Office Barclays Bank PLC – Prison > J Sainsbury plc > Academies Contractors Kier Group plc 1 Churchill Place Framework – Immigration > The British Land Tempsford Hall London > Primary Schools Capital – Probation Company PLC > Bath and North East Kier Regional Kier Support Services Kier Residential Kier Property Kier Project Investment Investment Programme – Youth Justice Board > Hermes GB Limited Somerset Council Regional contracting, Comprehensive facilities High-quality private and Commercial property Promotes and manages Sandy E14 5HP > Wm Morrison > Cambridgeshire major building projects, management, reactive social housebuilding. development. the Group’s interests in PFI Bedfordshire > Local authorities The Royal Bank of Scotland PLC Supermarkets PLC County Council affordable housing. and planned building bringing together Kier’s SG19 2BD > Cornwall County Kier Construction maintenance, M&E design expertise and resources 280 Bishopsgate Council UK civil engineering, and installation, plant in construction, property Telephone: 01767 640111 London hire and other outsourced development, housing and > East Riding of mining and overseas www.kier.co.uk EC2M 4RB services for both private facilities management. Yorkshire Council operations. Total value of orders Total value of orders Total value of orders Total value of orders and public sectors. > Defra North Registered Number Registrars East Procurement England 2708030 Capita Registrars £112m £482m £126m £184m > Gloucestershire Revenue Revenue Revenue Revenue Revenue Northern House County Council Woodsome Park > Hampshire County Fenay Bridge % delivered % delivered % delivered % delivered Council £1,653m £394m £243m £70m £15m Financial calendar Huddersfield through frameworks through frameworks through frameworks through frameworks > Improvement and 8 November 2008 West Yorkshire Efficiency South East (IESE) Annual general meeting HD8 0LA > London Borough of 28 November 2008 Stockbrokers Harrow Payment of final dividend for 2007/08 Landsbanki Securities (UK) Limited > Norfolk County Council 70% 16% 10% 3% 1% Beaufort House > Nottinghamshire County February 2009 86% 51% 100% 78% 15 St Botolph Street Council Announcement of half-year results > Plymouth City London Profit before tax Profit before tax Profit before tax Profit before tax Profit before tax and interim dividend for 2008/09 Council (before exceptional items) (before exceptional items) (before exceptional items) EC3A 7QR > South Lanarkshire April 2009 KIER SUPPORT SERVICES SECURED ORDER BOOK BY YEAR KIER AIRPORTS Council Financial Advisors KIER AIRPORTS £0.7m Payment of interim dividend www.kier.co.uk/kierairports > Torfaen County £59.0m £14.2m £12.7m £7.9m Hawkpoint Partners Limited Value £m Borough Council September 2009 41 Lothbury 400 Total order book > BAA Plc Commodity Announcement of preliminary full-year results London Build Framework and final dividend for 2008/09 EC2R 7AE > One of five contractors 350 £2,023m for £650m framework 62% 15% 13% 9% 1% over five years at airports Order book in the UK 300 Preferred bidder/ Kier Regional shortlisted KIER RAIL awards by sector Business revenue Unit sales Property portfolio* Committed investment* www.kier.co.uk/kierrail (by category) 250 > Network Rail Infrastructure Upgrades East Anglian Region 200 > Five-year rail infrastructure renewal programme 150 KIER WATER Education 28% Building 1-bed 7% Office £325m Education £10.1m www.kier.co.uk/kierwater Commercial 22% Maintenance 66% 2-bed 32% Mixed-use £430m Health £4.2m 100 Residential 11% Managed Services 12% Industrial £113m Libraries £1.7m > United Utilities - 3-bed 26% Retail 11% Building Services Retail £51m Other £2.4m Integrated Alliance North 4-bed 15% Hotels & leisure 9% Engineers 11% Network Rail JV £569m 5-bed 2% > KMI Plus joint Health 8% Plant 8% 50 venture including Custodial 7% Street Services 3% Social 18% Kier Construction Other 4% * Gross development * Portfolio of 12 PFI projects with > Five-year programme value £1,488m a committed equity investment 0 of work of £18.4m 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 www.johnstonworks.com JohnstonWorks Designed and produced by Page 6 Page 12 Page 16 Page 20 Page 23 OPERATIONAL HIGHLIGHTS 2008 CORPorate
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