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Construction and infrastructure services group Kier said it expected to deliver half-year results 'slightly above' its expectations following an improvement in site productivity amid the ongoing pandemic.
The company also said it anticipates that a reduction in adjusting items in the period would generate a statutory result 'materially better' than the corresponding period last year.
As at 31 December 2020, Kier had been awarded places on long-term frameworks worth up to £11 billion, across a number of sectors including, health, education and justice.
In the first few weeks of 2021, the company also won an 8-year maintenance contract worth about £200 million with Transport for London.
Looking ahead, the company said it expects to deliver at least £105 million of annualised cost savings by the end of FY21.
'The group's sites have operated under site operating procedures which reflect Public Health England's guidance, since March 2020. Accordingly, the Group was well prepared for the national lockdown introduced in early January 2021,' the company said.
At 8:33am: (LON:KIE) Kier Group PLC share price was 0p at 63p