Kier publishes improved half-year results

The contractor has reported growth in revenue and pre-tax profit for the six months between 1 July 2025 and 31 December 2025.

Kier, whose financial year runs from 1 July to 30 June, racked up more than £2bn in revenue and £32.6m in earnings during the half year, up 2% and 14% respectively on the same period in 2024. The group’s margin grew to 3.5% from 3.4% year-on-year.

A similar performance in the second half of the year would see Kier exceed £4bn in revenue for the second consecutive year, in line with board expectations.

The rise in revenue largely was down to the group’s infrastructure services business, which reported growth of 4.9% year-on-year.

Infrastructure services generated £1.08bn in sales and a £42.3m pre-tax profit for the six month period. The construction division recorded £920m in revenue and made a £32.3m in pre-tax profit and the group’s property arm generated £24.9m in revenue and made a slight loss.

Yesterday, Kier was announced as one of 10 successful bidders appointed to the NHS’s Hospital 2.0 framework.

Stuart Togwell, chief executive, said: “We have delivered a strong first half, with good growth in both revenue and profits, reaching an average net cash position for the first time in 13 years, a significant milestone for the group.

“These results reflect the strength of our customer relationships, the quality of our teams and our operational excellence. Underpinned by our robust cash generation, we are pleased to announce an increase in the interim dividend, in line with earnings, and a further £25m share buyback programme.”

He added: “Our order book has grown to a record £11.6bn and we have seen this momentum continue into the second half with a number of appointments to frameworks in key sectors of health, education, water and roads, with further clear opportunities ahead in energy and defence. This underpins the confidence we have in our ability to shape the future of infrastructure, supporting the delivery of the UK government’s 10-year pipeline of investment.”

At the time of reporting, Kier’s share price was 227.50p, down 3.19% from the previous close.