Kier Group plc Chief Executive Andrew Davies will retire and step down from the Board on 31 October 2025, leaving the company with record orders, rising profits and with revenue of over £4bn for the first time since 2018.
Mr Davies will be succeeded by Stuart Togwell, currently Kier’s Executive Director and Group Managing Director of Construction on 1 November 2025.
Pre-tax profit rose 15% to £78m in the year to June 2025 on revenue up 4% to £4.08bn. Adjusted operating margins edged up to 3.9%, just short of the group’s long-term 4%–4.5% target, says Construction Enquirer.
He departs leaving his successor with a record order book of £11bn, with 91% of next year’s revenue already secured and about 70% of FY27 work locked in, giving the business its strongest visibility of future cashflows in years.
Kier’s balance sheet is now also in far better shape, ending the year with £204m net cash compared to £167m last time.
Average month-end net debt has been cut to £49m, a dramatic turnaround from the £422m burden Davies inherited when he took charge in 2019.
Infrastructure remained Kier’s biggest earner, accounting for just over half of group revenue at £2.14bn, up 7% on last year. Work on HS2 and growth in the water and nuclear markets offset delays in new road and rail programmes.
Andrew Davies said in a statement:
“It has been an absolute privilege to lead Kier and to transform the Group into a strong and sustainable business that benefits all stakeholders. I want to thank all the colleagues for their support, hard work and commitment over the last six years in building the foundations to ensure Kier remains a leading infrastructure services, construction and property company that is vital to the UK and is better placed than ever to succeed.”
Stuart Togwell, Chief Executive Designate, added:
“I am honoured to be appointed as the next Chief Executive and look forward to working with Kier’s exceptional teams to drive success and growth and deliver for our customers, our communities and this industry that I am so passionate about.”
(Pic: Kier Group)
