{
  "id": 8207963,
  "title": "Kier to halt new investment in property development",
  "url": "https://urgent.news/2026/09/15/kier-to-halt-new-investment-in-property-development",
  "topic": null,
  "section": null,
  "published": "2026-09-15T08:45:00.000Z",
  "source": {
    "name": "Discovered",
    "slug": "discovered",
    "url": "https://aol.co.uk/articles/kier-halt-investment-property-development-080724000.html"
  },
  "original_language": "en",
  "account": "Construction giant Kier Group has announced it will cease new investment in its property development business, effective from the 2027 financial year. This decision is seen as a setback for the Government's housing construction objectives. The FTSE 250 company intends to allocate its funds towards other aspects of the firm. Kier's shares experienced a slight increase in early trading due to this announcement. CEO Stuart Togwell mentioned that Kier is undertaking significant steps to enhance and streamline the business. This move will enable Kier to concentrate on its core infrastructure and construction sectors, thereby reinforcing the group's balance sheet. The property division, primarily operating through joint ventures, undertakes investments and developments of both commercial and residential urban regeneration projects across the UK. Kier reported that the overall business revenues surged to £63 million for the year ending June 30, up from £38 million the previous year. However, operating profits declined by nearly a quarter, reflecting challenges stemming from broader macro-economic instability. The division currently manages a portfolio of over 5,000 residential units, with construction under way on seven projects. Kier also disclosed that its revenues rose by 7.5% to £4.39 billion for the year ending June, compared to the prior year. This growth was driven by a 10% increase in the infrastructure division, the company's largest sector, due to work on UK fusion energy initiatives and contracts for National Highways. Adjusted pre-tax profits rose by 8.8% to £136.4 million for the year. Togwell expressed satisfaction, stating, \"I am pleased to report that Kier has delivered another year of strong performance, achieving excellent revenue and profit growth. We continued to bolster the group's financial profile, reaching an average net cash position for the first time in over a decade, a significant milestone from which to build.\"",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}