LONDON (dpa-AFX) - Kier Group Plc (KIE.L) announced its trading update covering the period since 28 June. The Group has traded in line with the Board's expectations in the period. Looking forward, the Group said it remains on course to deliver double digit profit growth in the current year and achieve Vision 2020 targets.
The Group said, following ongoing investment in the property and residential divisions and the acquisition of McNicholas, its average net debt position has increased in the period in line with the Board's expectations. In line with the Vision 2020 targets, the Group expects to maintain a net debt to EBITDA ratio of less than 1x at 30 June 2018.
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