The property, residential, construction and services business, announced revenues were up five per cent at £4.27 billion, and underlying profit from operations of £146 million rose by three per cent after £7 million interest and tax cost from joint ventures.
KWS, which was formed in July 2016, made good progress in its first 12 months and has established itself as a provider of end-to-end workplace solutions, spanning hard and soft facilities management, design and asset management and wider business services.
The division recently secured places on several important design, asset management and consultancy frameworks across the UK, including the £2.8 billion four-year Crown Commercial Service (CCS) project management & full design team services framework, the £430 million four-year CCS estates professional services framework, the £90 million four-year Fusion21 consultants framework and the £50m, two-year ESPO consultancy services framework.
New FM contracts in the year include a two-year hard FM contract with the Royal Berkshire Fire and Rescue Service, a three-year hard FM contract with NHS Business Services Authority and a one-year total FM contract with Sensor City Liverpool, part of the John Moores University complex.
Meanwhile, KWS’ £100 million ten-year joint venture (JV) contract with Powys County Council, which it is delivering in partnership with Kier Housing Maintenance, successfully mobilised in the period.
Commenting on the results, Steve Davies, managing director, Kier Workplace Services, said: “This is a good set of results for KWS, and we’ve secured substantial wins across our core sectors in our first 12 months, demonstrating our growing reputation.
“Our expertise in FM and business services is underpinned by the integrated offer of the wider Group and means we’re able to offer public and private sector clients a complete solution for their business needs.”