Shares in the geotechnical specialist jumped after Keller said 2026 profit would beat market forecasts, driven by surging North American demand.
Keller Group’s shares surged more than 20% on Tuesday after the London-based geotechnical specialist contractor said its annual profit would come in “materially” ahead of market forecasts, as demand for infrastructure and data-centre projects in North America accelerates.
Shares in Keller Group were changing hands at 3,235p by mid-morning on Tuesday, up 20.6% from Monday’s close of 2,682p, after the company issued an unscheduled trading update. The stock touched an intraday high of 3,290p, a fresh 52-week high, having traded as low as 1,238p in September 2025.
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An Unscheduled Upgrade
In the update, published before Tuesday’s market open, Keller said stronger second-quarter trading meant 2026 revenue and underlying operating profit would now beat current market expectations of £3.15bn and £223m respectively, according to Alliance News. For 2025, the group had reported revenue of £3.09bn and underlying operating profit of £218.2m.
Keller said its North American division, which accounts for around 60% of group revenue, delivered what chief executive James Wroath called an “exceptional performance across the US and Canada,” supported by record volumes in infrastructure and data-centre work. The company’s order book stands at a record £1.9bn, boosted by a multi-year contract to remediate Interstate 40. Trading in Europe and the Middle East remained robust, while Asia-Pacific performed broadly in line with expectations.
Tuesday’s update is the second time this year that Keller has surprised the market to the upside. The group’s full-year 2025 results, released earlier this year, already beat expectations and prompted analysts to raise their price targets in May. Tuesday’s guidance upgrade suggests that momentum, rather than a one-off, is continuing to build.
Keller is due to report half-year results on 4 August, according to company data. Markets will be watching for confirmation that the North American strength seen since the spring can be sustained through the rest of the year, particularly given continued softness in residential markets such as south Florida. For now, the scale of Tuesday’s move underlines how far consensus estimates had fallen behind the pace of Keller’s actual trading.