Signs of progress, but Kier's big challenge yet to come

摘要

Kier chief executive Andrew Davies completed a couple more steps from the playbook of a 'CEO doing a turnaround' as he presented the group's results. He announced a whacking great writedown and insisted that things would be different from here on out. Aside from facing up to Kier's problems by making the writedowns, there were other encouraging signs of progress. A new commercial director has been appointed with the explicit task of instilling bid discipline, so hopefully there will be no more Broadmoor Hospitals or Mersey Gateways. That said, loss-making jobs have not been as big a problem for Kier as some of its peers.