A LEADING construction company employing more than 200 Hampshire staff has witnessed glowing financial results.

Kier Group plc today announced soaring revenue of £1.5 billion.

Bosses are putting it down to a construction boom being fuelled by the improving economic recovery.

The firm, which has offices in Tollgate Business Park, Eastleigh, announced revenues of £1.583 billion for the period up until December 31 – up 11 per cent on the previous year.

The company has property, residential and services portfolios, and tops the construction industry league table for 2014 with £1.876 billion in deals.

Flagship Hampshire projects include the £4.8m construction of Cedar School in Southampton for children with special needs, which featured building a new school on the site in Redbridge Lane, which opened last year.

Bosses announced more deals in the pipeline with a construction order book of £2.6 billion, £3.9 billion worth of orders in services, £1 billion in property and strong sales in the residential division.

The group has an underlying operating profit of £44.2m, in line with the previous year of £44.2, enabling the business to retain robust margins.

The period ended with a better than forecast net debt position of £156m after investment of £37m in the property and residential divisions.

Group chief executive Haydn Mursell welcomed the results and said: “This once again reflects our ability to deliver consistently while continuing to invest for medium-term growth.

“With an improving market, we are seeing more and higher quality opportunities filling our pipeline.

“Significant positions on key frameworks, a disciplined approach to new work and an improving economy position us well for the remainder of 2015 and over the medium term.

“A further increase in the interim dividend reflects our confidence in the future.

“We remain on course to meet the board’s expectations for the full year.”