Kier Group - Re: KIE Stream Log - Yes, a good return and...

Yes, a good return and working capital are easily achievable. Over £4bn in revenue, even without the residential business which is up for sale. £65m in retained dividends (not paying out to shareholders). Rights issue of £250m earlier this year. Some assets already sold (overseas business, office buildings and land etc) and more up for sale. The new management is building cash and will easily fund the business. Even the debt is not high; group net debt of £165m (on turnover of £4bn plus, this is tiny) and average monthly debt of around £420m, which is half of the debt financing available to Kier. The business is even recession proff ot a much higher degre than thewider industry; most of Kier's customers are regional authorities who have already contractually committed to their schools, hospitals, and roads projects.