The numbers were confirmed in a results update ahead of Companies House filing for the year ended October 2025 showing an underlying pre‑tax profit of £5.3m compared to £3.2m last time.

Looking forward the firm 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. While some margin compression is expected, the business remains confident of delivering profitability in 2026.

“Looking further ahead, Keltbray is well positioned for growth in 2027, supported by expansion across the National Infrastructure, Renewables and Data Centre markets.

“Revenues are expected to exceed £400 million, with increasing scale supporting progress towards the shareholder’s medium‑term operating profit target of 5%. Backed by a committed shareholder, a strengthened leadership team, and strong support from its banking partner Metro Bank, alongside surety and credit insurance providers, the business has a strong platform to deliver sustainable long‑term growth.

“The Group enters 2026 with a high‑quality order book of £244 million, reflecting current conditions in the London commercial market, including planning delays and continued investor caution.

“Despite these headwinds, Keltbray has maintained a disciplined approach to work winning, prioritising sustainable margins over volume through the robust governance of its Executive Investment Panel.”

Karl Goose, Chief Executive Officer of Keltbray, said: “This has been a year of transition and progress for Keltbray Built Environment. Despite a more subdued market backdrop, we have improved profitability, strengthened margins and reinforced the fundamentals of the business.

“Our Integrated Project Model continues to differentiate us, enabling better control, clearer accountability and consistent delivery for our 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.”