RE: Indeed, this will fly on HS2 confirmation11 Feb 2020 08:40
The approval of HS2 could also provide some positive news for troubled contractor Kier Group PLC (LON:KIE), which over the last year has seen its share price plunge 78% following a string of profit warnings.
Liberum said Kier had secured around £1.3bn of work on the HS2 project through a joint venture with French builder Eiffage and now-defunct outsourcing group Carillion, which they expect will add £15mln in earnings for the company’s 2022 financial year.
The broker also said Kier’s contracts on the project will bring in £167mln of revenue per annum over six years if the project proceeds