Keller Group (KLR) Trading update summary

Trading performance and divisional highlights

• North America division significantly outperformed expectations, driven by record volumes and strong demand for infrastructure and data centre projects, offsetting a weaker south Florida residential market.

• Europe and Middle East division delivered robust results, with strong projects in Scandinavia, central Europe, and the Middle East balancing subdued conditions in western Europe.

• Asia Pacific division performed in line with expectations, with Austral maintaining momentum and offsetting pricing pressures in the Australian foundations market.

Order book and tendering activity

• Order book reached a record level of approximately £1.9bn, supported by major multi-year infrastructure contracts.

• Tendering activity remains buoyant across all divisions, indicating continued strong demand.

Financial outlook and guidance

• Full year 2026 revenue and underlying operating profit are now expected to be materially ahead of current market consensus (£3,150m revenue and £223m operating profit).

• Balance sheet and cash generation remain strong, supporting confidence in long-term growth prospects.