Revenue for the period reached £1.46 billion, down 2% year-on-year but up 1% on a constant currency basis
LONDON: Keller Group plc, the world’s largest geotechnical specialist contractor, reported interim results for the half year ended June 30, 2025, showing a resilient performance ahead of market expectations despite macroeconomic headwinds.
Revenue for the period reached £1.46 billion, down 2% year-on-year but up 1% on a constant currency basis. Underlying operating profit fell 9% to £102.6 million, with margins holding firm at 7%, well above the five-year H1 average of 4.8%.
The Group’s net debt, on a bank covenant basis, dropped 39% to £61.5 million, reflecting strong financial discipline and a £25 million share buyback. Keller plans to launch an additional £25 million tranche in the second half of the year.
Chief Financial Officer David Burke said, “We have delivered a good first half performance against a strong comparative period, with underlying business performance remaining robust. Our strong balance sheet provides us with flexibility, enabling organic growth as well as targeted M&A.”
The Board declared an interim dividend of 18.3p, a 10% increase from H1 2024, and reaffirmed its full-year guidance, supported by a record £1.6 billion order book and improved operational capabilities.
James Wroath is set to join as Chief Executive Officer on August 18, 2025.