Have held KIE since flotation in early 1990s and they have increased profits every year since. Share price has moved in line, but still modestly rated on historic P/E of 11 at 750p.Lots of cash and largely ungeared track record, good spread of activity between housebuilding and construction, with a number of valuable longterm PFI projects underpinning cash flows for many years to come. AGM at end of this week should confirm underlying strength. One to lock away imo but of course dyor.

Alan - made up some of the shortfall today.

And quite a lot more today!

Way up on me.
Last 2 days definitely belong to you, Partridge.
See you next week!!
Alan

Alan - reckon KIE now in front by a short head! Still looks strong.

Bad few days for me :-(((
As Arnie siad though, "I'll be back".
Alan

Alan - almost halfway through Feb and KIE still full of running. Almost tempted to take profit in this stock for first time in years, but not quite!

Check those results - now a decade of record annual profits, strong cash flows and dividend increases 15%+ per annum. Quality PEP share.Will keep mine locked away.

Match conceded.
The best pick won.
Congrats partridge.
Alan

Thanks Alan. Brought down to earth by arrival in this mornings post of a 95 page document relating to Watford FC rights issue - probably cost more to produce than my holding is worth. "Gave" them 250 a few years ago to help stave off bankruptcy, so not really bothered; what a waste of small shareholders money. Big decision now whether to take up the rights and have one less pint of Youngs ESB. At least the Hornets are (wildly) exceeding expectations so far this season.

Is there a bid in the offing here?

Originally an MBO prior to flotation, so always thought it a possibility. Basic trading/prospects justifies present price, so any premium would be a bonus. Have held for many years and quite happy to hold for a few more!

Tipped by David Stevenson (FT/Investors Chronicle) on The Four Wise Monkeys. Website address below

http://www.4wm.co.uk

Tipped in Shares mag as a good stock to have in this cycle of the downturn.
Goes ex-divi in late sept '11.

Trading Update.

Current trading

Trading remains in line with the Interim Management Statement issued on 17 May 2012 (IMS) with our order books for Construction and Services remaining robust and cash balances sustained at healthy levels.

Sale Of Plant Business

Kier announces that, following a strategic review of its plant business, it has completed the sale of its:

temporary accommodation business and related real estate assets to Wernick Hire Limited ("Wernick") for a maximum aggregate consideration of £11,725,000, of which £11,250,000 was paid in cash on completion; and

mechanical plant and small tools unit to Ashtead Plant Hire Company Limited ("Ashtead"), for a maximum aggregate consideration of £4,013,000, of which £3,763,000 was paid in cash on completion.


INVESTMENT IN BIOGEN

Kier announces that it has today completed its investment in Biogen (UK) Limited ("Biogen"), establishing a 50/50 joint venture with the owner of Bedfordia Group plc ("Bedfordia").

Headquartered in Bedfordshire, Biogen designs, builds and operates large-scale anaerobic digestion ("AD") plants to process food waste and produce renewable energy.

Kier's maximum total investment is £24.375 million (comprising a mixture of preferred and ordinary equity), of which £5.375 million was invested on completion. A further £2.5 million of equity will be invested in December 2012 and another £2.5 million in July 2013. The remaining £14 million is scheduled to be invested in instalments over the next four years to finance new AD plants.

Biogen, which was established by Bedfordia in 2005, currently owns and operates two large commercial AD plants in the UK (both of which are included in the joint venture) and, in conjunction with Kier, plans to build a number of further plants in strategic locations to serve the requirements of local authorities, food retailers, food manufacturers and commercial waste providers to the food and retail industries.

KIER CONSORTIUM PREFERRED BIDDER ON £500M SW SCOTLAND HUB

A consortium comprising Kier Project Investment, Equitix Holdings, Galliford Try Investments and John Graham Holdings (to be known as "The Alliance Community Partnerships") has been named as the preferred bidder for a new infrastructure hub in south-west Scotland to deliver over £500 million of public sector projects on behalf of The South West Territory Programme Board (in conjunction with the Scottish Futures Trust).

The Alliance Community Partnerships will deliver projects for 18 public sector bodies across Ayrshire, Dumfries & Galloway and Lanarkshire over ten years. The projects will include non-acute health, education, community and local authority-related work. Financial close is expected to take place in October 2012.

The programme of works forms part of the wider Hub programme, valued at over £1.4 billion.

Kier Group chief executive, Paul Sheffield, commented: "Kier has an excellent track record in project delivery within the public sector and brings a wealth of experience to the consortium. We look forward to working as part of The Alliance Community Partnerships team in delivering much-needed facilities for the local communities of south-west Scotland and adding value for them throughout the process."


Ends

Kier preferred bidder to deliver £240m Watford Health Campus


Kier Property has been selected by the Health Campus Partnership (formed by Watford Borough Council, West Hertfordshire Health Trust (WHHT) and Watford Football Club) as the preferred bidder for the £240m Watford Health Campus project.

The contract will deliver a 375,000sq ft mixed-use development, including new hospital facilities for Watford and south-west Hertfordshire; up to 650 homes, 35% of which will be affordable housing; a 37,500sq ft office, which will be pre-let to WHHT; and a large multi-storey car park.

The Health Campus Partnership has been established to regenerate land in Watford and the surrounding area, creating new office, retail and industrial space and the potential for 1,600 new local jobs.

Kier's chief executive, Paul Sheffield, commented: "We are extremely pleased to be selected as the preferred partner to deliver the Watford Health Campus scheme, having worked closely with the partners to understand their vision and aspirations for the Health Campus and the area overall. We have an excellent track record of delivery and have an experienced and skilled team to take our proposals forward."

Kier will be working with the Health Campus Partnership to complete the financial and legal aspects of their agreement by December 2012.

In a related business, we have annual results from construction and civil engineering group Kier scheduled for Thursday, and again the upcoming statement has been preceded by a positive update. Trading, we were told in June, was "resilient", and 85% of the company's forecast construction revenue for 2013 is already on its order books as "secured" or "probable".

The City is currently forecasting a dividend yield of more than 5%, and estimates put the shares on a price to earnings (P/E) ratio of 9. The shares have done well in the past few months, having risen 17% since the beginning of April to today's 1,330p, but current valuations suggest they could still be too cheap. More details of the company's outlook on Thursday could help cement that feeling

Interim Management Statement

Current trading

Kier continues to be on course to meet its expectations for the current financial year with a bias towards the second half of the year as forecast.

Construction

Our Construction division has maintained its position in a challenging market, having secured over £400m of new work since 1 July 2012 much of which has resulted from our numerous frameworks and similar arrangements. The operating margins will remain in line with our expectations for this financial year.