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Investing.com -- Keller Group PLC (LON:KLR), the world’s largest geotechnical specialist contractor, confirmed Thursday it remains on track to deliver full-year results in line with market expectations despite facing headwinds from a volatile macroeconomic environment and foreign exchange challenges.
The company reported its performance continues to benefit from improved operations and new project wins in resilient markets, supported by a record-level order book. Analyst consensus for Keller’s underlying operating profit for 2025 stands at £214 million.
Keller’s North American Foundations business has performed well, maintaining healthy margins despite the normalization in pricing following 2024’s buoyant market. The division has also benefited from settlements of historic claims. However, Suncoast has experienced decreased activity and softer pricing due to a weakening U.S. residential market.
"Keller remains on track to deliver a full-year performance in line with market expectations for 2025, despite the ongoing FX headwind," said James Wroath, CEO of Keller Group. "The Group’s sustained record-level order book and geographically diverse portfolio provides both visibility and resilience in the current mixed economic conditions."
In Europe, the company has yet to see signs of broad-based economic recovery, though project delivery performance remains strong. Middle East operations continue to be resilient, benefiting from the non-recurrence of losses on a challenging project from the previous period.
The Asia-Pacific Division demonstrated robust performance, driven primarily by operations in Australia (Austral) and India, with the Australian foundations business benefiting from project close-out settlements that offset generally softer market conditions.
Keller expects to approach a net cash position by year-end, providing headroom to its net debt/EBITDA target range of 0.5x-1.5x. The company is also continuing its share buyback program, having purchased approximately 0.5 million shares for £7.8 million since September 29, 2025, as part of a £25 million tranche.