Full Year Trading Update

Alumasc Group PLC (The)

17 July 2026

 

17 July 2026

THE ALUMASC GROUP PLC

("Alumasc" or the 'Group')

Full Year Trading Update

Resilient performance in challenging macro conditions, initial benefits of improvement initiatives encouraging

Alumasc (ALU.L), the premium sustainable building products, systems and solutions Group, provides the following trading update for the year ended 30 June 2026 ('FY26'), ahead of publishing its FY26 results in September 2026.

Vijay Thakrar, Interim Executive Chair, commented:

"As previously reported, during the second half of FY26 the Alumasc management team have focused on self-help initiatives around operational efficiencies and stronger service levels, to ensure momentum in order intake, which has resulted in a 49% year-on-year increase in our order book. This has meant that, despite the unprecedented macroeconomic and geopolitical uncertainty, the Group has delivered a performance broadly in line with the expectations set at the Q3 trading update, with strong performances at Housebuilding Products and Building Envelope divisions.

We continue to progress a number of commercial, operational and strategic initiatives within the Water Management division, to strengthen performance and support future growth. We are still taking a prudent view of how the macro environment will develop but remain focused on these performance improvement initiatives and will provide further details when we publish our full year results in September 2026."

Key points

·      Resilient overall performance in the face of strengthening demand headwinds in the Group's end markets over the final quarter of FY26, with continued delays in order book and pipeline conversion

·      Revenue expected to be approximately £107m (FY25: £113m)

·      Underlying profit before tax¹ ('UPBT') expected to be approximately £10m (FY25: £14m)

·      Refocused commercial strategy generating positive early impact, resulting in a strong order book at June 2026, 49% above June 2025

·      Divisional revenue performance:

§ Housebuilding Product showing revenue growth of c.16% vs FY25

§ Building Envelope revenues similar to FY25

§ Water Management revenues declined c.16% vs FY25 (c.3% decline excluding CLK project)

·      Balance sheet remains robust, with June 2026 net bank debt leverage of approximately 0.5x

·      Commercial and operational initiatives to improve performance at Water Management division underway and generating a positive initial impact

Summary

As reported in the trading update in April, demand in the Group's key commercial markets has been subdued by affordability concerns, a constrained planning environment and fragile confidence levels, exacerbated by global geopolitical and macroeconomic instability resulting from the conflict in the Middle East.

With the conflict in the Middle East persisting, and renewed political uncertainty arising in the UK, these headwinds strengthened over the final quarter of FY26, resulting in further delays in project decision-making and call-offs from customers.

Against this backdrop, we have delivered² a resilient performance, with revenue and UPBT of £107m and £10m respectively, broadly in line with revised market consensus³. Encouragingly, a refocused commercial strategy is starting to gain traction in key markets, and we exit FY26 with a strong order book, up 49 per cent compared to June 2025.

The Group's financial position remains strong with year-end net debt of approximately £7m, representing a leverage ratio of approximately 0.5x, despite a temporary increase in working capital, due to the timing of shipments into the CLK project in Hong Kong and buffer stock holdings to mitigate input cost volatility and extended supply lead times arising from the Middle East conflict.

Divisional Summary

The Water Management division has been particularly affected by adverse market conditions, and faced a tough prior year comparator that included significant revenues from its contract at CLK airport in Hong Kong. Excluding sales to the CLK project, divisional revenue was modestly behind the prior year, with lower UK revenues partially offset by an increase in overseas volumes. As previously reported, there are significant opportunities in the Water Management division to drive performance improvement, productivity and cost efficiencies. A number of commercial and operational initiatives are already underway and will continue into FY27.

The Building Envelope division produced a resilient performance, despite volatility in both its supply chain and customer demand, with its strong customer relationships and technical expertise helping to mitigate the challenging conditions.

The Housebuilding Products division, despite weak housebuilder volumes, delivered another strong performance, with market share gains driven by its outstanding customer service and new product development initiatives.

¹ Underlying profit before tax is calculated before amortisation of acquired intangible assets, IAS19 pension costs, and acquisition and restructuring costs.

² All FY26 metrics referred to in this announcement remain subject to audit.

³ The Board understands the current FY26 market consensus forecast for revenue and UPBT to be £108.9m and £10.9m respectively.

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. The person responsible for making this announcement on behalf of the Company is Simon Dray, CFO/Group Company Secretary.

Enquiries:

The Alumasc Group plc                  

Vijay Thakrar (Interim Executive Chair)                                               [phone]

Simon Dray (CFO/Group Company Secretary)           

Cavendish (Nominated Adviser & Joint Broker)                     

Julian Blunt, Edward Whiley (Corporate Finance)                                 [phone]

Will Smith (Corporate Broking)

Peel Hunt (Joint Broker)                 

Mike Bell                                                                                                [phone]

Ed Allsopp           

Camarco (Financial PR)                 

Ginny Pulbrook                                                                                         [phone]

Tilly Butcher                                                                                              [phone]

[e-mail]

Notes to Editors:

Alumasc is a UK-based supplier of premium sustainable building products, systems and solutions. Around 80% of Group sales are driven by building regulations and specifications (architects and structural engineers) because of the performance characteristics offered.

The Group has three business segments with strong positions and brands in their individual markets. The three segments are: Water Management; Building Envelope; and Housebuilding Products.

 

END