Kier Group (LSE:KIE), the infrastructure services, construction and property group, said full-year revenue and profit for the twelve months ended 30 June will come in at the top end of market expectations.
The trading update said strong first-half momentum continued through the second half, driven by growth in Water projects within Infrastructure and the ramp-up of major construction contracts including HMP Glasgow.
The order book grew 8% to approximately £11.9 billion at 30 June, up from £11.0 billion a year earlier, covering more than 90% of consensus FY27 Group revenue of £4.407 billion.
The Group secured roughly £1.5 billion of new Infrastructure business in the second half, including work on Sizewell C's North Plaza and the first £200 million tranche of the STEP fusion programme, alongside more than £1.0 billion in Construction awards spanning education, justice and healthcare.
Kier expects an average month-end cash position of approximately £11 million for the year, reversing a net debt position of £49 million in the prior year, with period-end net cash of roughly £232 million, up roughly 14% on the £204 million reported previously.
"We now expect the outcome for FY26 to be at the top end of market expectations", said chief executive Stuart Togwell, adding that the order book "continues to provide excellent revenue visibility, comprising substantial high quality opportunities across critical UK infrastructure".
Kier said it will share its ambitions for the Group at the time of its full-year results.
News Intelligence what this means for the company
Kier Group guided full-year FY26 revenue and profit to the top end of market expectations, backed by strong second-half momentum in Water infrastructure and major construction contract ramp-ups including HMP Glasgow. The order book grew 8% to £11.9 billion—covering over 90% of consensus FY27 revenue—while the company swung to net cash of £232 million from net debt of £49 million a year earlier, signalling material operational and financial improvement.
The guidance upgrade and order book expansion reinforce Kier's visibility into FY27 revenue, though the company remains concentrated on a small number of large programmes (Sizewell C, STEP, Water projects, HMP Glasgow). Management will set out longer-term ambitions at full-year results on 21 July, which will be the next point to assess whether current momentum can sustain beyond the near-term contract pipeline.
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