Kier expects results at top end of expectations as order book grows
Kier Group PLC on Tuesday said it now expects revenue and profit for the 2026 financial year to be at the top end of market expectations.
The Salford, England-based infrastructure services, construction and property group said the "strong trading performance" in its first half continued through the second half, which ended on June 30.
In the Infrastructure division, Kier said the second half of the year benefited from ongoing strong growth in Water projects, along with "good momentum" in its Highways and Rail arms.
The Construction division has seen the ramp-up of significant projects, Kier said. The Property business saw an increase in activity, but transaction timings were put back by "the wider macroeconomic turbulence".
The company's order book at the end of June was £11.9 billion, up 8.2% from £11.0 billion a year before.
Kier said more than 90% of its expected revenue for financial 2027 is already secured, based on consensus revenue of £4.41 billion.
The firm said there was around £1.5 billion of new business in Infrastructure in the second half of the year, with £1.0 billion of new business in Construction.
The company expects to report a period-end net cash position of £232 million, up 14% from £204 million in the previous year.
"Following our strong start to the year we have seen further good momentum through the second half, such that we now expect the outcome for FY26 to be at the top end of market expectations," said Chief Executive Stuart Togwell.
"We have also seen a notable increase in our order book, which continues to provide excellent revenue visibility, comprising substantial high quality opportunities across critical UK infrastructure. This success highlights the strength of our market positions, combined with the quality of our end to end capabilities, which provide a compelling platform for continued growth."
Kier will publish its financial 2026 results on September 15.
Shares in Kier were up 4.0% at 231.80 pence on Tuesday morning in London.
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