Construction company Kier has announced pre-tax profits up 10.6% to £58.4 million for the year until the end of June.

The strong results showed a full year dividend up 5% and record net cash at £175.2 million compared to 92.5 million in 2009.

Commenting on the results, Paul Sheffield, Chief Executive said: "The year to 30 June 2010 has been another successful one for the Group. Under lying profit before tax is ahead of last year, revenues are at similar levels to last year and cash generation has been very strong, closing the year at a record balance."

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He said that Kier's construction order books of secure and probable contracts remain robust.

Mr Sheffield concluded: "Our integrated business model provides us with unique opportunities drawing on the strength of our relationships with public and private sector clients and this has proved to be very resilient during the global economic slowdown. We are also encouraged by the prospects we see in markets such as power, utilities, waste and mixed-use regeneration schemes and overseas."

(CD/KMcA)