Total revenue of £976m (2011: £1,046m)
Underlying pre‑tax profits of £27.0m (2011: £34.0m)
Underlying EPS of 53.5p (2011: 70.3p)
Construction margins at 2.1% (2011: 2.5%) and Services margins* at 4.3% (2011: 4.5%)
An exceptional charge of £4.4m (2011: nil) to reflect the restructuring of our business
Interim dividend of 21.5p (2011: 21.5p)
Group cash of £105m at 31 December 2012 (30 June 2012: £159m), after approximately £80m reinvestment in the Group and issuance of 7-year and 10-year notes totalling £63m
Order books remain healthy for Construction at £2.1bn (2011: £2.2bn) and Services £2.1bn (2011: £2.1bn) following approximately £800m of awards in the period
Construction and Services order books have 100% and 96% respectively of targeted revenue for the year to 30 June 2013 secured and probable; and 66% and 85% respectively of targeted revenue for the year to 30 June 2014 secured and probable
The pipeline across our Property division has increased to more than £1.3bn (2011: £0.7bn)
Commenting on the results, Paul Sheffield, chief executive said:
"I am pleased to report a solid set of results for Kier for the six months which demonstrate the strength and resilience of the Group in what remains a difficult market.
"Our three divisions create a well-balanced business model, which coupled with our strong balance sheet, will continue to underpin our future performance. As we are exposed to today's difficult environment, particularly in UK building, we are taking steps to restructure the business to reflect the scale of future opportunities. This restructuring will continue through the second half of the financial year.
"We are encouraged by the opportunities arising in our infrastructure and overseas Construction operations. In addition our Services businesses continue to diversify providing a strong platform for growth. In Property, our development and affordable housing pipeline has grown and now amounts to more than £1.3bn, and has attractive future prospects.
"Government announcements over the last year regarding investment in infrastructure and repairs and maintenance are positive for our business and we are well placed to benefit from those initiatives over the medium term."
