Record Order Book And Framework CoverageA record £11.6bn order book plus £150bn of frameworks and a £35bn pipeline gives durable multi-year revenue visibility (94% FY26, 78% FY27). That contracted backlog lowers tender risk, supports predictable revenue and underpins sustainable margins and cash planning.
Strong Free Cash Flow And Improving Net CashConsistent free cash flow growth and a period-end net cash position (£103m) — plus the first positive average net cash in 13 years — indicate structurally improved cash conversion. This enhances financial flexibility for dividends, buybacks, debt reduction and targeted investments without heavy market dependence.
Integrated Model With In-house CapabilitiesKier's integrated Kier 360 model, large in-house design resource and significant M&E capability (~40% of Construction revenue) create durable competitive advantages. Vertical skills aid early engagement, improve control of delivery and margins, and raise barriers to competition across infrastructure and building services.