Operational delivery driving profitable growth
“It has been a privilege to lead Kier over the last six years and to see the Group transformed into a strong and sustainable business with enhanced resilience and a reinforced financial position.”
Andrew Davies, Chief Executive
The Group’s continued focus on operational excellence and disciplined cash management has produced another strong set of results for the year. We have continued to deliver against our long-term sustainable growth plan as our operational activity converts into high levels of profitability and cash generation, enhancing our balance sheet flexibility.
On 21 January 2025, we announced the launch of an initial £20m share buyback programme, building on the reintroduction of dividend payments during FY24. Given our significant operational and financial progress, allied to the Board’s ongoing confidence in the Group’s performance, a final dividend of 5.2p has been proposed (subject to shareholder approval) which would total a 7.2p dividend for the full year representing a 38% increase on the FY24 total dividend.
The future prospects for the Group are underpinned by the order book growing to a record £11bn at the end of FY25, with 91% of Group revenue for FY26 now secured. During the year, Kier won new, high-quality and profitable work in our markets reflecting our leading operational capabilities, as well as the bidding discipline and risk management embedded in the business. Long-term frameworks, as well as pipeline opportunities and income from the Property division, represent additional areas of opportunity, all of which provide us with substantial multi-year revenue visibility.
Devonport Royal Dockyard, Plymouth
Stuart succession
On 22 July 2025, Kier announced Andrew Davies will be retiring from the company on 31 October. He will be succeeded by Stuart Togwell, currently Kier's Executive Director and Group Managing Director of Construction, on 1 November.
Long-term sustainable growth plan
The Group is focused on delivering against its long-term sustainable growth plan, first announced in September 2024 and subsequently evolved in June 2025 for an improved margin target range:
Toddbrook Reservoir, Derbyshire
Strategy
The Group’s strategy continues to be focused on:
- UK Government, regulated industries and blue-chip customers
- Operating in the business‑to‑business market
- Contracting through long-term frameworks
Our core businesses are well placed to benefit from Government and regulated industry spending commitments in respect of UK infrastructure. We are a strategic supplier to the UK Government and c.90% of our contracts are with the public sector and regulated companies.
Despite wider political and economic uncertainties, our core markets remain favourable with a clear commitment to long-term UK infrastructure spending driven by key structural factors, such as population growth, transportation pressures, ageing infrastructure, energy security and climate change.
