**Summary of Alumasc Group PLC Interim Results for H1 FY26 (Ended 31 December 2025)**
**Overview**
Alumasc Group PLC, a sustainable building products and solutions provider, reported resilient interim results for H1 FY26, despite challenging market conditions. The Group remains on track to meet full-year expectations, supported by market share gains, a healthy order book, and a robust pipeline.
**Key Financial Highlights**
**Revenue**£50.4 million (H1 FY25: £57.4 million), impacted by demand headwinds from the Building Safety Act, affordability issues, and Autumn Budget uncertainty.
**Underlying Operating Margin**8.9% (H1 FY25: 14.1%), reflecting lower revenues but supported by £1.1 million in annualised cost savings.
**Underlying Profit**£4.0 million (H1 FY25: £7.5 million), with a focus on H2 FY26 for stronger performance.
**Statutory Profit Before Tax**£4.0 million (H1 FY25: £6.5 million).
**Interim Dividend**Maintained at 3.5p per share, reflecting strong financial position and confidence in prospects.
**Operational Performance**
**Water Management**Revenue declined to £22.7 million (H1 FY25: £29.6 million) due to project delays and the Building Safety Act. However, export opportunities and pipeline growth are encouraging.
**Building Envelope**Revenue slightly down to £19.0 million (H1 FY25: £20.2 million) due to project delays but strong order book growth.
**Housebuilding Products**Revenue grew 15% to £8.7 million (H1 FY25: £7.5 million), driven by market share gains and operational efficiency.
**Strategic Progress**
**Order Book**Excluding the Chek Lap Kok (CLK) airport project, the order book is 27% higher than December 2024 and 50% higher than December 2023.
**Pipeline**Robust opportunities in UK infrastructure (defence, schools, hospitals, transport) and growing overseas specifications.
**Sustainability**Over 80% of products address environmental challenges, positioning Alumasc well for the shift toward green buildings.
**Financial Position**
**Net Debt**£7.7 million (H1 FY25: £4.6 million), with a conservative leverage ratio of 0.5x.
**Pension Scheme**Improved position with an IAS19 surplus of £7.1 million (December 2024: £3.5 million).
**Leadership Transition**
Pamela Bingham appointed as CEO Designate, taking over from Paul Hooper on 31 March 2026.
**Outlook**
Strong order book and pipeline, with growing momentum in both UK and overseas markets.
Early signs of improving business and consumer confidence, supported by interest rate reductions and government reforms.
Board remains confident in achieving FY26 expectations and capitalizing on medium to long-term opportunities in sustainable construction.
**CEO Commentary**
Paul Hooper highlighted the Group’s resilience, strategic progress, and cost-saving measures, while expressing confidence in delivering full-year results and long-term shareholder value.
**Conclusion**
Alumasc Group PLC demonstrated resilience in H1 FY26, navigating market challenges while positioning itself for growth through sustainability, operational efficiency, and strategic investments. The Group remains confident in its ability to meet FY26 expectations and capitalize on emerging opportunities in the construction sector.
| Metric | H1 FY26 | H1 FY25 | Change |
|---|---|---|---|
| Revenue | £50.4m | £57.4m | -12% |
| Underlying Operating Profit | £4.5m | £8.1m | -44% |
| Underlying Operating Margin | 8.9% | 14.1% | -5.2% |
| Underlying Profit Before Tax (PBT) | £4.0m | £7.5m | -47% |
| Statutory Profit Before Tax (PBT) | £4.0m | £6.5m | -38% |
| Interim Dividend per Share | 3.5p | 3.5p | 0% |
| Net Debt | £7.7m | £4.6m | +67% |
| Leverage Ratio | 0.5x | 0.3x | +0.2x |
| Defined Benefit Pension Scheme Surplus | £7.1m | £3.5m | +103% |