Keller sees "record performance" in 2026 on GBP2.5 billion order book

Keller Group PLC on Thursday said it is on track for a "record performance" in 2026, as its order book stands at a similarly record £2.5 billion.

The London-based engineering firm specialises in geotechnical work for the construction industry, providing foundation and ground improvement services.

Its trading update on Thursday confirmed guidance provided with interim results in August and at a capital markets day in October.

In August, Keller said 2026 results would be in line with recently upgraded market expectations of £3.34 billion in revenue and £242 million in underlying operating profit. This would be up from revenue of £3.09 billion and underlying operating profit of £218.2 million booked in 2025.

On Thursday, Keller placed current market expectations at £3.37 billion in revenue, while expectations for underlying operating profit remain at £242 million. Revenue is expected by analysts to rise to £3.54 billion in 2027 and £3.69 billion in 2028. Underlying operating profit is expected to rise to £254 million in 2027 and £267 million in 2028.

"2026 is on track to be another record year for Keller - the fourth in a row," said Keller Chief Executive Officer James Wroath.

"With an about £2.5 billion order book, healthy free cash flow generation, and a strong balance sheet, we are set to enter 2027 with good visibility and momentum."

Keller shares were down 2.4% to 3,050.00 pence on Thursday morning in London.

Analysts at Berenberg said the broker will make no changes to its 2026 forecasts for Keller following Thursday's update. However, they said, increased organic revenue growth in Berenberg's model for Keller following the capital markets day means it is raising its price target for the stock to 3,600p from 3,450p.

Copyright 2026 Alliance News Ltd. All Rights Reserved.