Keltbray boosts profitability post restructure

For the 2025 financial year (FY2025), period-end cash rose significantly, to £11.4 million, up from £3.5 million in 2024.

Post group restructure in 2025, the Built Environment business more than doubled its net asset position, increasing to £30.3 million from £11.4 million in October 2024.

Keltbray also remained debt free, thanks to access to its parent company Keltbray Group’s £30 million Metro Bank facility.

It finished the financial year with an underlying pre-tax profit of £5.3 million (FY2024: £3.2 million), and despite a decline in turnover, its margin performance was strengthened.

Chief executive, Karl Goose said the group had improved its overall profitability last year, adding an Integrated Project Model had enabled the contractor to provide consistent delivery for its clients. 

“Just as importantly, we exited the year with a stronger balance sheet, improved cash performance and a solid platform from which to deliver our longer‑term five‑year strategy, focused on disciplined growth, resilience and sustainable value creation,” he said.

More recently, Keltbray is enjoying a healthy order book worth £244 million, with investments focused on bolstering its commercial and pre-construction capabilities, which also include ongoing funding in digitalisation.

Bosses predict 2026 will be a “transitional year” for Keltbray, despite a £1 million exceptional redundancy cost last year, stating on its website: “Performance in the first half of the year is in line with budget expectations, reflecting lower revenue levels identified early, which enabled proactive cost base adjustments. 

“The impact of these actions is reflected in exceptional redundancy costs of £1 million reported in the 2025 results. While some margin compression is expected, the business remains confident of delivering profitability in 2026” 

Keltbray is preparing for future growth with revenue expected to exceed £400 million in 2027, underpinned by national infrastructure, renewables and data centre markets. 

With increasing scale, this supports group progress towards the shareholder’s medium‑term operating profit target of 5 per cent.

Late last year, Keltbray moved into new headquarters in London as it prepared to expand into new growth markets, choosing 80 Strand as its base of operations, complementing its other office locations in the capital as well as those in Glasgow and County Antrim in Northern Ireland.

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