Kier Group, which is leading some of the major regeneration projects in Gloucester, says it is on target to grow its strong performance.

The construction group announced in its full year results that revenue was up five per cent to £4.27 billion.

Underlying profit from operations was up three per cent at £146 million and the proposed full-year dividend per share increased by five per cent to 67.5p reflecting the board's confidence in the group's prospects.

Kier is leading the redevelopment of the former magistrates court building in Gloucester into an adult and children's services hub and also the £7.5 million transformation of the city bus station.

Commenting on the results, Haydn Mursell, Kier Group chief executive, said: "Our underlying performance for the year was good.

"Having simplified our portfolio, the Group is more focused and able to pursue its growth ambitions in our three core markets; building, infrastructure and housing, which now represent 90 per cent of the Group's revenue and profit.

"We continue to invest in the business to improve our operational efficiency, providing a robust platform on which to take advantage of the strong long-term fundamentals in these core markets.

"Our construction and services order books of £9.5 billion, together with our c.£2 billion property development and residential pipelines, provide good long-term visibility of our future work. This visibility, coupled with our healthy balance sheet, provides us with confidence of achieving our Vision 2020 strategic targets."

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