Final Results
Summary by AI BETAClose X
Unigel Group plc
(the "Group" or the "Company")
Final Results
Unigel Group plc (AQSE: UNX), the manufacturer and distributor of materials used in the manufacture of telecommunication fibre optic cables announces its audited final results for the year ended 31 December 2025.
The turnover for the year was £38,246,738 (2024: £29,172,801) and the profit after tax was £2,809,082 (2024: £1,663,181). The gross profit percentage was 19.8% (2024: 20.2%).
The final report and accounts will be available on the Company's website.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Enquiries:
|
Unigel Group plc |
|
|
Eric Chhoa |
+81 80 6929 3688 |
|
Gary Revel-Chion
|
+44 (0) 1273 612 122 |
|
Cairn Financial Advisers LLP (AQSE Corporate Adviser) |
|
|
Jo Turner |
+44 (0) 20 7213 0880 |
|
Ludovico Lazzaretti |
|
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
Notes to Editors
Unigel Group plc is the holding company whose operating subsidiaries, Unigel (UK) Limited ("Unigel") and Unitape Limited ("Unitape") manufacture and distribute materials used in the manufacture of telecommunication fibre optic cables.
Unigel formulates, manufactures, and markets thixotropic gels primarily to the fibre optic cable industry. In addition, it also makes specialty gel products for the construction, green energy, and high voltage transmission apparatus markets.
Unitape is one of the largest domestic manufacturers and suppliers of laminated steel tapes to the fibre optic cable industry in North America.
CHAIRMAN'S STATEMENT
During the course of 2025, the Group's revenue and profit improved significantly over the previous year as global market recovery in fibre optic cable demand especially in the US, Middle East and Asia-Pacific helped improved demand for the Group's products. According to CRU, it is estimated that aggregate demand for optical fibre increased over 9.0% to over 700 million fibre km in 2025 with growth drivers from AI, 5G rollout, and FTTH (fibre-to-the-home) network deployments.
The Group expects 2026 to be a promising year for fibre optic cable demand as the global market accelerates through its recovery phase-with robust demand coming from AI, 5G and data-centre capital investment. The proliferation of AI applications to businesses and consumers is expected to spur sustained demand for fibre optic cable in traditional telecom networks globally in the coming years.
Group revenue in 2025 was £38.25 million compared to £29.17 million in 2024. Our aggregate profit after tax was £2.81 million in 2025, up £1.15 million from £1.66 million in 2024, or an increase of 65.6% compared to the preceding period.
Overall business performance improved significantly in 2025 for both our thixotropic gel and steel tape businesses:
· Thixotropic Gel Our gel business volume increased approximately 3.5% compared to year 2024, with a corresponding increase in profit after tax of 170.1% over the same period. This represented a significant operational improvement compared to 2024.
· Steel Tapes Our steel tapes business registered revenue grew 44.0% to £26.19 million with a corresponding increase in profit after tax to £2.21 million, an increase of 32.3% over the same period.
The Group's after-tax profit improvement was attributable to stellar performance in both our thixotropic gel and steel tape businesses. Higher shipment volume, operational productivity gains, active raw material and logistics cost management, and higher shipment volume to key customers contributed positively to the overall higher profitability of the Group.
Our overall Group interest expenses was £46,073 in 2025, a decrease of 27.0% compared to £63,153 in 2024, despite a much higher revenue base. The Group was able to reduce its interest expenses by optimising gains in working capital and inventory management, improved vendor financing terms and consolidation of the Group's liquidity management.
In 2025, the Group seamlessly integrated the 40.0% equity stake in Unigel (UK) Limited ("UUK") that it acquired from Unigel Compounds Sdn Bhd in 2024. Our wholly owned thixotropic gel business registered one of the highest operating profit contributions in recent years which were attributed to management's success in operational efficiency gains and improved market presence in APAC with premium products.
The year 2025 saw the return of Trump 2.0, and the global trading havoc caused by unilateral tariffs imposed on the rest of the world by the United States. Increased geopolitical brinksmanship between the US and China, and highly escalated tariffs imposed by the United States on imports from China and other countries had brought much uncertainty and difficulties to the Group's supply chain sourcing framework.
Realising the seismic shift in global international relations early, and an increasing tendencies of trading nations to retreat from free and multilateralism in trade, the Group had the foresight in the beginning of the decade to take decisive steps to de-risking and diversifying our raw material supply and production chain away from a single point of vulnerability as we worked closely with our customer base in this critically important initiative. Today, our businesses are more diversified and disciplined in both supply chain management, production process integration and geographical production points as we adapt to the new geopolitical realities.
In 2025, we made significant capital commitments to increase localisation of production and onshoring into the US as North America became the most important revenue contributor to the Group. During the fall, our steel tape business made a significant commitment to a new production site of approximately 80,000 square feet in Hickory, North Carolina, consolidating our operational footprint to a single site. The Group is committing approximately £2.5 million in capital expenditure upgrades which will double our production capacity and increase local content of our products in the North American market. This strong commitment to the US market will help shield our businesses from the negative uncertainties of US tariffs and non-tariffs barriers in the coming years.
The Unigel Group believe that there are substantial opportunities for us to grow organically and through acquisitions. With the continued robust demand growth of electron energy and AI, and increasing demand for green and sustainable version of our product portfolios to support data and energy transmission, we have never been more optimistic about the future of our businesses. We are excited to see the launch of our new products in 2026 for high growth industry verticals.
In 2025, we also saw the passing of our Chair, Janne Sjoden-a friend and colleague. We would like to register our thanks for his friendship, guidance and insights during his many years of service with the Group.
On behalf of my colleagues at the Board, as the new Chair-I would like to express our gratitude to our shareholders for their continued support.
UNIGEL GROUP PLC
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 31 DECEMBER 2025
|
|
|
Year to 31 December 2025 |
Year to 31 December 2024 |
|
|
|
£ |
£ |
|
|
|
|
|
|
TURNOVER |
|
38,246,738 |
29,172,801 |
|
|
|
|
|
|
Cost of sale |
|
(30,655,752) |
(23,273,536) |
|
|
|
|
|
|
GROSS PROFIT |
|
7,590,986 |
5,899,265 |
|
|
|
|
|
|
Administrative expenses |
|
(4,087,147) |
(3,816,214) |
|
|
|
|
|
|
OPERATING PROFIT |
|
3,503,839 |
2,083,051 |
|
|
|
|
|
|
Interest receivable and similar income |
|
295,118 |
109,319 |
|
Interest payable and similar charges |
|
(46,073) |
(63,153) |
|
|
|
|
|
|
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION |
|
3,752,884 |
2,129,217 |
|
|
|
|
|
|
Tax on profit on ordinary activities |
|
(943,802) |
(466,036) |
|
|
|
|
|
|
PROFIT FOR THE FINANCIAL PERIOD FOR THE GROUP |
|
2,809,082 |
1,663,181 |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the period |
|
|
|
|
(Loss)/ Gain on foreign exchange |
|
(111,251) |
22,230 |
|
|
|
|
|
|
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
|
2,697,831 |
1,685,411 |
|
|
|
|
|
|
Minority interest |
|
- |
(58,403) |
|
|
|
|
|
|
TOTAL COMPREHENSIVE INCOME FOR THE GROUP |
|
2,697,831 |
1,627,008 |
UNIGEL GROUP PLC
CONSOLIDATED BALANCE SHEET
31 DECEMBER 2025
|
|
2025 |
2024 |
|
|
£ |
£ |
|
FIXED ASSETS |
|
|
|
Intangible assets |
519,637 |
583,032 |
|
Tangible assets |
1,908,350 |
1,180,255 |
|
|
|
|
|
|
2,427,987 |
1,763,287 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
7,403,932 |
6,354,253 |
|
Debtors |
4,597,278 |
4,211,623 |
|
Cash at bank and in hand |
2,341,463 |
324,168 |
|
|
|
|
|
|
14,342,673 |
10,890,044 |
|
CREDITORS |
|
|
|
Amounts falling due within one year |
9,516,494 |
7,539,707 |
|
|
|
|
|
|
|
|
|
NET CURRENT ASSETS |
4,826,179 |
3,350,337 |
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
7,254,166 |
5,113,624 |
|
|
|
|
|
CREDITORS |
|
|
|
Amounts falling due after more than one year |
21,728 |
15,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR LIABILITIES |
|
|
|
Deferred tax |
254,822 |
167,681 |
|
|
|
|
|
|
|
|
|
NET ASSETS |
6,977,616 |
4,930,400 |
|
|
|
|
|
|
|
|
|
CAPITAL AND RESERVES |
|
|
|
Called up share capital |
72,291 |
72,291 |
|
Share premium |
2,483,933 |
2,483,933 |
|
Profit and loss account |
4,500,073 |
2,389,093 |
|
Translation reserve |
(78,681) |
(14,917) |
|
|
|
|
|
SHAREHOLDERS' FUNDS |
6,977,616 |
4,930,400 |
UNIGEL GROUP PLC
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
31 DECEMBER 2025
|
Group |
Share capital |
Share premium |
Retained earnings |
Translation reserve |
Minority interest |
Total equity |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
At 1 January 2024 |
56,425 |
469,011 |
992,961 |
(28,921) |
1,080,659 |
2.570,135 |
|
Upon issue of shares |
15,866 |
2,014,922 |
- |
- |
- |
2,030,788 |
|
Upon acquisitions |
- |
- |
- |
- |
(1,139,062) |
(1,139,062) |
|
Comprehensive income for the period |
|
|
|
|
|
|
|
Profit for the period |
- |
- |
1,663,181 |
- |
- |
1,663,181 |
|
Minority interest in profit/(loss) for the period |
- |
- |
(58,403) |
- |
58,403 |
- |
|
Other comprehensive income/(loss) for the period |
- |
- |
8,226 |
14,004 |
- |
22,230 |
|
Dividends paid |
- |
- |
(216,872) |
- |
- |
(216,872) |
|
|
|
|
|
|
|
|
|
Total comprehensive income for |
|
|
|
|
|
|
|
the year at 31 December 2024 |
72,291 |
2,483,933 |
2,389,093 |
(14,917) |
- |
4,930,400 |
|
|
|
|
|
|
|
|
|
Comprehensive income for the period |
|
|
|
|
|
|
|
Profit for the period |
- |
- |
2,809,082 |
- |
- |
2,809,082 |
|
Other comprehensive income/(loss) for the period |
- |
- |
(47,487) |
(63,764) |
- |
(111,251) |
|
Dividends paid |
- |
- |
(650,615) |
- |
- |
(650,615) |
|
|
|
|
|
|
|
|
|
Total comprehensive income for |
|
|
|
|
|
|
|
the year at 31 December 2025 |
72,291 |
2,483,933 |
4,500,073 |
(78,681) |
- |
6,977,616 |
|
|
|
|
|
|
|
|
UNIGEL GROUP PLC
CONSOLIDATED CASH FLOW STATEMENT
YEAR ENDED 31 DECEMBER 2025
|
|
|
2025 |
2024 |
|
|
|
£ |
£ |
|
Net cash inflow/(outflow) from operating activities |
|
4,953,459 |
1,382,971 |
|
Returns on investments and servicing of finance |
|
(384,820) |
(1,476,505) |
|
Taxation |
|
(614,697) |
(380,099) |
|
Capital expenditure |
|
(984,162) |
(68,550) |
|
|
|
2,969,780 |
(542,183) |
|
Financing |
|
(952,485) |
463,783 |
|
Increase/(decrease) in cash in the period |
|
2,017,295 |
(78,400) |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of net cash flow to movement in net debt |
|
|
|
|
Increase/(decrease) in cash in the period |
|
2,017,295 |
(78,400) |
|
Cash inflow/(outflow) from movement in debt |
|
952,485 |
(463,783) |
|
Change in net debt resulting from cash flows |
|
2,969,780 |
(542,183) |
|
Net debt at 31 December 2024 |
|
(670,243) |
(128,060) |
|
Net cash/debt at 31 December 2025 |
|
2,299,537 |
(670,243) |
UNIGEL GROUP PLC
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
YEAR ENDED 31 DECEMBER 2025
1. RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FROM OPERATING ACTIVITIES
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Operating profit |
3,503,839 |
2,083,051 |
|
Depreciation and amortisation charges |
221,873 |
215,404 |
|
(Profit)/loss on fixed asset disposals |
(4,254) |
6,750 |
|
(Increase)/Decrease in stocks |
(1,049,679) |
(1,375,226) |
|
(Increase)/Decrease in debtors |
(437,591) |
(1,448,391) |
|
Increase in creditors |
2,719,271 |
1,901,383 |
|
|
|
|
|
Net cash inflow from operating activities |
4,953,459 |
1,382,971 |
2. ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE CASH FLOW STATEMENT
|
|
2025 |
2024 |
|
|
£ |
£ |
|
Returns on investments and servicing of finance |
|
|
|
Proceeds on sale of fixed assets |
16,750 |
701 |
|
Purchase of minority interest |
- |
(1,306,500) |
|
Interest receivable and similar income |
295,118 |
109,319 |
|
Interest payable and similar charges |
(46,073) |
(63,153) |
|
Dividends paid |
(650,615) |
(216,872) |
|
|
|
|
|
Net cash outflow for returns on investments and servicing of finance |
(384,820) |
(1,476,505) |
|
Capital expenditure |
|
|
|
|
|
Purchase of intangible fixed assets |
(38,947) |
(26,453) |
||
|
Purchase of tangible fixed assets |
(945,215) |
(42,097) |
||
|
|
|
|
||
|
Net cash outflow for capital expenditure |
(984,162) |
(68,550) |
||
|
|
|
|
||
|
Financing |
|
|
||
|
(Loan paid)/new loan received |
(952,485) |
(463,783) |
||
|
|
|
|
||
|
Net cash outflow from financing |
(952,485) |
(463,783) |
||
UNIGEL GROUP PLC
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2025
1. GENERAL INFORMATION
The company is a public limited company incorporated in England and Wales (registered number 13934232) and its registered office is Unigel House, 7 Park View, Alder Close, Eastbourne, BN23 6QE.
The principal activity of the group is the manufacture and sale of cable filling and flooding compounds and associated pumping and delivery equipment.
The information above has been extracted from the Company's final report and accounts and therefore references to page numbers and notes may not be complete. Shareholders should read the full version of the final report for the period ended 31 December 2025 which is available on the Company's website, http://www.unigel.com.
2. ACCOUNTING POLICIES
Accounting convention and basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The preparation of the consolidated financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the group's accounting policies. Information is given in the accounting policies noted below.
Going concern
The group meets its working capital requirements through the receipt of revenue from global sales of cable filling and flooding compounds. Ultimately the receipt of revenue depends upon the availability of liquidity for the group's customers and the level of activity in the telecommunications market.
The directors prepare annual budgets and forecasts in order to ensure that they have sufficient liquidity in place for the business and have considered the effect on the group's business from different scenarios in various countries with which it trades. Based on this assessment, and having regard to the post year-end cash reserves and trading levels of the group, related party funding and the borrowing facility available from the group's bankers, the directors believe they have a reasonable expectation that the group will have adequate resources to continue to discharge its debts and liabilities as they fall due for the foreseeable future. The directors therefore consider it appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.
Basis of consolidation
The consolidated financial statements comprise the financial statements of the company and its subsidiary undertakings as at the balance sheet date. The financial statements of the subsidiaries are prepared to the same reporting date as the company. The subsidiaries are consolidated from the date of acquisition, being the date on which the group obtained control.
In preparing the consolidated financial statements, intra-group balances, transactions and unrealised gains or losses are eliminated in full.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 8 minutes ago Frasers Group
- 8 minutes ago Cavendish Financial
- 8 minutes ago Diaceutics
- 8 minutes ago AB Dynamics
- 13 hours ago Johnson Matthey