Kier Group FY 2026 Revenue Rises 7.5% as Net Cash Turns Positive

Kier Group posted fiscal 2026 full-year revenue growth of 7.5% to £4.4 billion, alongside the infrastructure contractor's first full-year average net cash position in fourteen years as management shifts focus toward core services.

"This year, I want to show how far we have progressed and how that progress puts us in a strong position to deliver consistent, sustainable growth," said Chief Executive Stuart in a statement during the earnings call.

Financial Performance and Order Book Growth

According to the earnings call transcript, Kier's adjusted operating profit increased by 6.7% to £170 million for the full year. Adjusted earnings per share climbed 8.8% compared to the prior fiscal period, driven by demand across the company's core construction and infrastructure segments.

The firm also reported an order book of £11.9 billion, providing multi-year visibility across its government and private-sector contracts. This order book anchors the group's pipeline as it executes its medium-term strategic targets.

Achieving Net Cash Position

A notable milestone for the period was the return to a positive cash balance, reversing years of balance sheet pressures that followed previous restructuring cycles.

"I am delighted to announce that for the full year, we achieved an average net cash position of £11 million. It is a significant milestone for the group," said Chief Financial Officer Tom Hinton.

Exit From Property Development

Alongside the financial results, Kier announced a strategic shift to wind down its property development operations. The company will no longer allocate capital to new developments and will instead run off its existing portfolio.

This managed exit is projected to realize approximately £150 million of capital over the next three years. Management intends to deploy these proceeds toward strengthening the balance sheet and supporting the core infrastructure services business.

What the Transition Means for Core Services

For general readers unfamiliar with construction sector dynamics, property development involves speculative capital outlays, land acquisition, and cyclical market exposure. By exiting this segment, Kier is pivoting toward lower-risk, fee-based infrastructure and building services where cash flows are tied to secured public-sector frameworks rather than property market valuations.