Keller Group, the UK-based geotechnical contractor, said revenue for the first half of 2026 increased 11% from a year earlier to £1.61 billion, driven by robust demand in North America.
The business reported adjusted earnings per share rose 22%, reflecting higher profitability and the effect of its share repurchases. Keller has launched a £100 million share buyback program and said it had repurchased £35 million of stock since March.
On an operating basis, the company disclosed an operating profit of £112.5 million for the six-month period and an adjusted operating profit of £117.9 million. Pretax profit for the period was £103.3 million.
Regional performance
North America produced record revenue and profit expansion, the company said, supported by elevated activity in infrastructure and data center markets alongside strong project delivery. In Europe and the Middle East, Keller reported margin improvements and profit growth, attributing gains primarily to better project execution and stronger performance in the Middle East region.
The company also reported a record order book of £1.9 billion, which it said is supported by major multi-year infrastructure contracts and will underpin revenue in the second half and beyond.
Outlook and consensus
Keller stated it expects full-year 2026 performance to be in line with recently upgraded market expectations. Company-compiled consensus forecasts cited by Keller point to 2026 revenue of £3.34 billion and an underlying operating profit of £242 million.
Implications
- Revenue growth was led by North America, with infrastructure and data center demand cited as key drivers.
- Share buybacks have contributed to earnings per share growth alongside operational profit increases.
- A record order book provides a pipeline of work intended to support future revenue.
While Keller pointed to region-specific improvements and strong order intake, the company limited its forward commentary to alignment with upgraded market expectations and cited consensus forecasts for full-year metrics.