Keller Group (LSE:KLR), the world's largest geotechnical specialist contractor, upgraded its full-year 2026 expectations on Tuesday, saying both revenue and underlying operating profit will be materially ahead of current market consensus after North America, its largest division, posted record volumes.
Consensus for the year to 31 December, compiled from seven analysts, stood at revenue of £3,150 million and underlying operating profit of £223 million before the upgrade.
The North American division, which accounts for around 60% of group revenue according to chief executive James Wroath, has been propelled by surging demand for infrastructure projects and data centres, more than offsetting a softening south Florida residential market.
The group's order book has reached a record approximately £1.9 billion, boosted by the multi-year I-40 highway remediation contract, and the board described tendering activity across the group as buoyant.
Europe and Middle East trading was described as robust, with strength in Scandinavia, central Europe and the Middle East compensating for subdued conditions in western Europe, while Asia Pacific is performing broadly in line with expectations.
"This reflects Keller's ability to identify and respond to structural megatrends and pivot to subsectors with strong customer demand," Wroath said.
Interim results for the six months to 30 June are scheduled for 4 August, with a Capital Markets Day set for 14 October.
