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The improved financial position saw chief executive Andrew Davies launch a \u00a320m share buyback programme this morning.<\/span><\/p>\n In an upbeat trading update for the first six month he said Kier enjoyed a strong order book at the end of December, up to 3% at \u00a311bn on a year before giving the contractor confidence for the full year performance.<\/p>\n \u201cKier has delivered a strong first half performance, in line with our expectations, \u201d said Davies.<\/span><\/p>\n \u201cWe continue to be well positioned to benefit from UK Government and regulated industry infrastructure spending plans into areas where Kier offers market leading services, notably transport, education, healthcare, justice, defence, nuclear and water.<\/span><\/p>\n \u201cGiven our order book growth combined with our continued de-levering and greater confidence that we will achieve an average month-end net cash position, we have announced today a \u00a320m share buyback, as part of our evolved capital allocation policy to maximise shareholder returns.\u201d<\/span><\/p>\n He added that as a strategic supplier to key areas of the new Government\u2019s priorities, including transport, education, healthcare, justice, defence and nuclear, Kier saw significant medium term growth opportunities, also support by substantial investment in the regulated water sector.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n