Kier Living boss resigns, pushing group share price lower ahead of half-year results

The UK construction services and property group saw its share price tumble more than 15% after the head of Kier Living resigned ahead of the group's interim results on Thursday.

Kier Group saw Nick Moore, managing director of its Kier Living unit, resign last week, prompting the stock to close 15% lower on Friday, with its share price continuing its descent on Monday, down 6%.

The UK construction services and property group is set to unveil its half-year results on Thursday, with Moore's resignation coming after less than seven months at the helm giving investors cause for concern.

Kier Group is trading at 104p a share as of 15:15 (GMT) on Monday.

Looking to trade Kier Group and other UK stocks? Open a live or demo account with IG.

Kier continues to lower costs

The company told investors in its January trading update that it continues to make good progress with respect to its office closures, the outsourcing of certain functions and an overall reduction in headcount.

Kier Group expects to deliver reduce its headcount by around 1200 employees by 30 June 2020 and annual costs savings of at least £60 million in the financial year ending 30 June 2021.

A key component in delivering that cost savings target will be the successful sale of Kier Living, its housebuilding business, with the group also reviewing options for its property unit.

‘The work to re-shape the Group continues through the careful execution of our strategic priorities and efforts to significantly reduce the Group's cost base,’ Kier Group CEO Andrew Davies said. ‘The Group is performing in line with our expectations and we continue to win work from our customers.’

You can go long or short Kier Group with IG using derivatives like CFDs.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.