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Primary Recommendations

Kier Group - Infrastructure firm, on a PE of 6.5, is Canaccord’s "Top Pick for ’25”

February 2025

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • KIE
  • Price:
  • 138.5p
Sometimes a fresh pair of eyes can make the world of difference. Tier 1 Infrastructure and construction firm Kier, whose end markets include transport, nuclear, water, environment and energy, had been facing its Waterloo in 2019 following a series of loss-making contracts and debt piling up. However, the appointment of CEO Andrew Davies, who I met with over the month, has transformed its prospects beyond recognition. Aided by a share issue, Davies notes that average month end net debt has reduced from a ruinous £582m in FY’21 to just £116m in FY’24 and is expected to turn cash positive in the current year. Meanwhile, over the same period, the order book has increased from £7.7bn to £10.9bn, securing a massive 95% of expected revenues for ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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