Trading Statement
Summary by AI BETAClose X
13 January 2026
Metir plc
("Metir", the "Group" or the "Company")
Trading Update
Metir plc (AIM: MET), the leading global provider of fast-response, mobile and point-of-use water and environmental monitoring technologies, is pleased to provide a trading update for the financial year ended 31 December 2025 ("FY25"). The Group's Annual Report and Accounts are expected to be published in May 2026.
Trading in FY25 was in line with management expectations, with growth driven by increased international demand for Microtox® LX instruments, Microtox® reagents and Sulphate Reducing Bacteria ("SRB") kits, alongside continued progress in large-scale potable water monitoring projects with the Continuous Toxic Monitoring ("CTM") installation in Qatar. The Group expects to report revenues of £1.5m (31 December 2024: £0.23m) and a cash balance at the year-end of £1.04m following the successful fundraise of £1.0m, before expenses, completed on 22 December 2025.
The Group has continued to build on the momentum reported in its interim results announced on 30 September 2025 and the trading update released on 2 December 2025. Customer demand for Microtox® LX instruments remained strong throughout the second half of the year. Although outsourced manufacturing output increased during H2 2025, production capacity was limited during Q4 2025, constraining the pace at which customer demand could be converted into revenue. Due to these restrictions, 10 of the 56 Microtox® LX instruments ordered in FY25 could not be fulfilled; however, they are now being manufactured and will be delivered in early 2026. Increasing the outsourced manufacturing capacity of Microtox® FX instruments is a key near-term objective in 2026 following increased sales interest.
The growing installed base of Microtox® LX and FX instruments is expected to drive demand for high-margin Microtox® reagents. The Board believes that unlocking this high-margin recurring revenue stream is a significant financial objective for the business, with a focus on not only increasing manufacturing capacity, but also working with customers to drive greater reagent usage.
Demand for SRB kits, which were relaunched in June 2025, remained robust. Customer interest increased materially, with quotations provided to more than 60 companies worldwide. During Q4 2025, production of SRB kits was temporarily paused due to a manufacturing quality control assessment. The objective is to restart production as soon as practicable, possibly using an alternative biological component to ensure Modern Water's QuickChek™ SRB kit remains the market-leading fast response product.
Throughout FY25, the Board continued to prioritise investment in scaling-up manufacturing, product development and commercial capability, consistent with the Group's strategy to build a growing recurring-revenue business for its current product range. In addition, Metir is developing what it believes could be significant future revenue streams from new technologies, including its proprietary mobile PFAS testing technology with Swansea University, and progressing towards completion of the Cryptosporidium project in 2026 with Aptamer Group plc for deployment of a commercial real-time continuous Pathogen Detector.
The Group completed a fundraising in December 2025 to strengthen working capital, accelerate manufacturing output and therefore support the conversion of a growing order book into revenue. The Board believes this additional funding materially improves the Group's ability to execute its near-term growth plans and to increase margins on its products.
Metir has growing revenues from multiple and diverse Modern Water product streams. Ongoing development of the Group's unique mobile PFAS detection and Pathogen Detection technologies will increase the product portfolio further.
Bob Moore, Executive Chairman and Chief Executive Officer of Metir plc, commented:
"FY25 marked a year of strong commercial progress for Metir, with customer demand continuing to grow across Modern Water's instrument, reagent and testing kit portfolio. While manufacturing capacity constrained the Group's ability to fully meet demand during the year, the underlying momentum in the business is encouraging for sales growth throughout 2026.
"With enhanced funding in place, a growing installed base of instruments and an expanding international pipeline, we enter this year with increased confidence. The Board believes the actions taken during FY25, including further product development, provide a solid foundation for accelerating production of the Group's instrumentation and reagents, driving revenue growth and progressing towards sustainable profitability.
"We look forward to reporting progress on the Group's growth initiatives over the coming months."
- Ends -
Enquiries:
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Metir plc Bob Moore, Executive Chairman and Chief Executive Officer |
+44 (0) 20 3657 0050 via TPI |
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Singer Capital Markets Alex Bond |
+44 (0)20 7496 3000 |
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Turner Pope Investments (TPI) Limited Andrew Thacker / Guy McDougall |
+44 (0) 20 3657 0050 |
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Northstar Communications (Investor Relations) Sarah Hollins |
+44 (0) 113 730 3896 |
About Metir
Metir plc is a leading global provider of several fast-response, mobile and point-of-use water and environmental monitoring technologies. Through its two established trading divisions, Modern Water and Microsaic Systems, a specialist in mobile PFAS monitoring, the Company develops and supplies innovative, easy-to-use solutions that deliver rapid, accurate water and liquids quality results, helping industries, utilities and regulators monitor safety and compliance in real time.
With a strong focus on data-driven insight and field-ready design, Metir's technology supports critical decision-making across sectors, including environmental monitoring, public health and industrial process management.
Headquartered in York, UK, Metir serves worldwide customers and is dedicated to advancing water testing standards through innovative, accessible solutions.
For more information, please visit: https://www.metirplc.com
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