Firm says figure in latest results due out later this week
Keltbray said it has booked an exceptional cost of £1m for redundancies when it publishes its latest accounts later this week.
The firm released an update this morning ahead of announcing its results for the year to October 2025 and said: “Keltbray expects 2026 to be a transitional year. 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.”
It added: “While some margin compression is expected, the business remains confident of delivering profitability in 2026.”
The firm has seen a slowdown in London commercial work and earlier this year Keltbray’s new chief executive Karl Goose told Building: “London has been good to Keltbray and if there’s a boom we’ll be there. But we could do with some more [in London] and it’s a bit stop-start. London turns the taps on and the taps off.”
In its update, Keltbray said underlying pre-tax profit for the year to October 2025 would be £5.3m but has not said what turnover is or whether it made a pre-tax profit or loss.
But it said its year-end cash balance had increased from £3.5m to £11.4m while the firm’s order book stood at £244m at the start of the year.
It said that it expected turnover to grow again to around £400m in 2027 as the firm targets more infrastructure, renewables and data centre work.
Goose said a five year plan the firm had implemented was looking at a turnover figure of £500m. Part of this will see Keltbray open an office shortly in Glasgow to target Scotland’s plans for energy and infrastructure work.
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