Kier's 1H26 results were robust, with revenue up 2.6% YoY to £2.0bn and adj. EBIT up 6.6% to £71m at a 3.5% margin (+10bps). Order book growth of 5% since the year-end to £11.6bn reflects the underlying quality of Kier's chosen verticals, but what is most encouraging is the £44bn pipeline of potential work over the next two years – spanning urgent investment requirements across both new verticals for Kier (Defence, Ports) and sectors where it already has a strong foothold (Water, Nuclear, Health ....
