Andrews Sykes Group

ASY · AIM · Industrial Goods and Services · mcap £218m · 520.0p

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Financials · LTM to 30 Jun 26

Source: results 23 Sep 26 ↗

Revenue: £79.4m
Operating profit: £23.7m
Net income: £18.0m
Free cash flow: £11.4m
Net cash: £27.4m
Market cap: £218m
EV / EBIT: 8.0×
FCF yield: +5.2%
Price / book: 4.0×

Latest half-year · H1 26 vs H1 25 results 23 Sep 26 ↗

Revenue: £40.9m
Operating profit: £10.3m
Net income: £7.4m
Cash from operations: £8.8m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures

Income statement Balance sheet Cash flow

Annual Half-yearly

Every line as the company printed it, newest first – each period in the latest version the company published (restated figures where a later report restated them), in its own currency and units. Italic = calculated (H2 = full year − first half). The column headings link to the announcements.

Latest report: H1 26 (six months to 30 Jun 26), published 23 Sep 26 · read the results ↗

	FY 25£000 source	FY 24£000 source
Revenue	76,500	75,942
Cost of sales	(27,613)	(26,743)
Gross profit	48,887	49,199
Distribution costs	(13,270)	(11,335)
Administrative expenses	(12,160)	(14,677)
Operating profit	23,457	23,187
Adjusted EBITDA*	30,156	30,933
Depreciation	(5,680)	(5,968)
Depreciation of right-of-use assets	(3,269)	(2,929)
Profit on the sale of plant and equipment and right-of-use assets	1,177	1,151
Profit on the sale of land and buildings	1,073	-
Operating profit	23,457	23,187
Finance income	983	1,060
Finance costs	(1,013)	(1,060)
Profit before tax	23,427	23,187
Tax expense	(5,342)	(6,389)
Profit for the period from continuing operations attributable to equity holders of the Parent Company	18,085	16,798
Earnings per share from continuing operations
Basic and diluted	43.20p	40.13p
Dividend per equity share paid during the period	25.90p	25.90p
Proposed dividend per equity share	14.00p	14.00p

	H1 26£000 source	H2 25£000 calc.	H1 25£000 source
Revenue	40,861	38,556	37,944
Cost of sales	(14,982)	(13,431)	(14,182)
Gross profit	25,879	25,125	23,762
Distribution costs	(7,980)	(7,093)	(6,177)
Administrative expenses	(7,626)	(4,578)	(7,582)
Operating profit	10,273	13,454	10,003
EBITDA*	14,792	–	13,564
Depreciation	(3,269)	(3,048)	(2,632)
Depreciation of right-of-use assets	(1,565)	(1,681)	(1,588)
Profit on sale of land and buildings	-	–	-
Profit on the sale of plant and equipment and right-of-use assets	315	518	659
Operating profit	10,273	13,454	10,003
Finance income	463	466	517
Finance costs	(430)	(525)	(488)
Profit before tax	10,306	13,395	10,032
Tax expense	(2,937)	(2,749)	(2,593)
Profit for the period from continuing operations attributable to equity holders of the Parent Company	7,369	10,646	7,439
Earnings per share from continuing operations
Basic and diluted	17.60p	–	17.77p
Dividend per equity share paid during the period	14.00p	–	14.00p
Proposed dividend per equity share	11.90p	–	11.90p
Consolidated Statement of Comprehensive Total Income
for the six months ended 30 June 2026
Total for the six months ended 30 June 2026	£000	–	£000
Profit for the period	7,369	–	7,439
Other comprehensive income
Currency translation differences on foreign currency operations	(90)	–	32
Net other comprehensive expense that may be reclassified to profit and loss	(90)	–	32
Re-measurement of defined benefit pension assets and liabilities	113	–	74
Related asset restriction	(21)	–	(17)
Net other comprehensive income that will not be reclassified to profit and loss	92	–	57
Other comprehensive expense for the period net of tax	2	–	89
Total comprehensive income for the period attributable to equity holders of the Parent Company	7,371	–	7,528

	30 Jun 26£000 source	31 Dec 25£000 source	31 Dec 24£000 source
Non-current assets
Property, plant and equipment	22,152	21,595	19,403
Right-of-use assets	11,859	14,239	14,874
Defined benefit pension scheme surplus	1,547	1,486	1,786
Total non-current assets	35,558	37,320	36,063
Current assets
Stocks	4,227	3,780	2,394
Trade and other receivables	18,350	17,315	17,888
Current tax assets	–	584	769
Current tax asset	530	–	–
Cash and cash equivalents	27,399	28,386	23,181
Total current assets	50,506	50,065	44,232
Total assets	–	87,385	80,295
Current liabilities
Trade and other payables	(15,864)	(15,590)	(15,865)
Current tax liabilities	-	(679)	(471)
Right-of-use lease obligations	(2,550)	(2,885)	(2,556)
Total current liabilities	(18,414)	(19,154)	(18,892)
Net current assets	32,092	–	–
Total assets less current liabilities	67,650	–	–
Non-current liabilities
Deferred tax liabilities	(277)	(296)	(185)
Right-of-use lease obligations	(10,357)	(12,328)	(13,473)
Provisions	(1,968)	(2,070)	(1,560)
Total non-current liabilities	(12,602)	(14,694)	(15,218)
Total liabilities	–	(33,848)	(34,110)
Net assets	55,048	53,537	46,185
Equity
Called up share capital	419	419	419
Share premium	13	13	13
Retained earnings	50,781	49,180	42,231
Translation reserve	3,586	3,676	3,273
Other reserve	249	249	249
Total equity	55,048	53,537	46,185

	30 Jun 26£000 source	31 Dec 25£000 source	30 Jun 25£000 source	31 Dec 24£000 source
Non-current assets
Property, plant and equipment	22,152	21,595	21,502	19,403
Right-of-use assets	11,859	14,239	15,567	14,874
Defined benefit pension scheme surplus	1,547	1,486	1,838	1,786
Total non-current assets	35,558	37,320	38,907	36,063
Current assets
Stocks	4,227	3,780	2,754	2,394
Trade and other receivables	18,350	17,315	15,724	17,888
Current tax assets	–	584	–	769
Current tax asset	530	–	738	–
Cash and cash equivalents	27,399	28,386	23,412	23,181
Total current assets	50,506	50,065	42,628	44,232
Total assets	–	87,385	–	80,295
Current liabilities
Trade and other payables	(15,864)	(15,590)	(15,345)	(15,865)
Current tax liabilities	-	(679)	-	(471)
Right-of-use lease obligations	(2,550)	(2,885)	(2,814)	(2,556)
Total current liabilities	(18,414)	(19,154)	(18,159)	(18,892)
Net current assets	32,092	–	24,469	–
Total assets less current liabilities	67,650	–	63,376	–
Non-current liabilities
Deferred tax liabilities	(277)	(296)	(245)	(185)
Right-of-use lease obligations	(10,357)	(12,328)	(13,667)	(13,473)
Provisions	(1,968)	(2,070)	(1,611)	(1,560)
Total non-current liabilities	(12,602)	(14,694)	(15,523)	(15,218)
Total liabilities	–	(33,848)	–	(34,110)
Net assets	55,048	53,537	47,853	46,185
Equity
Called up share capital	419	419	419	419
Share premium	13	13	13	13
Retained earnings	50,781	49,180	43,867	42,231
Translation reserve	3,586	3,676	3,305	3,273
Other reserve	249	249	249	249
Total equity	55,048	53,537	47,853	46,185

	FY 25£000 source	FY 24£000 source
Operating activities
Profit for the period	18,085	16,798
Adjustments for
Tax charge	5,342	6,389
Finance costs	1,013	1,060
Finance income	(983)	(1,060)
Profit on disposal of plant and equipment and right-of-use assets	(1,177)	(1,151)
Profit on disposal of land and buildings	(1,073)	-
Depreciation of property, plant and equipment	5,680	5,968
Depreciation of right-of-use assets	3,269	2,929
Difference between pension contributions paid and amounts recognised in the Income Statement	131	166
Increase in inventories	(2,277)	(1,196)
Decrease in receivables	906	901
Decrease in payables	(707)	(1,541)
Movement in provisions	485	(1,310)
Cash generated from continuing operations	28,694	27,953
Interest paid	(1,013)	(1,015)
Corporation tax paid	(4,838)	(6,615)
Net cash inflow from operating activities	22,843	20,323
Investing activities
Disposal of plant and equipment	1,044	1,162
Disposal of property	1,255	-
Purchase of property, plant and equipment	(7,279)	(5,387)
Interest received	830	952
Net cash outflow from investing activities	(4,150)	(3,273)
Financing activities
Capital repayments for right-of-use lease obligations	(3,053)	(2,920)
Equity dividends paid	(10,841)	(10,841)
Net cash outflow from financing activities	(13,894)	(13,761)
Net increase in cash and cash equivalents	4,799	3,289
Cash and cash equivalents at the start of the period	23,181	19,967
Effect of foreign exchange rate changes	406	(75)
Cash and cash equivalents at the end of the period	28,386	23,181

	H1 26£000 source	H2 25£000 calc.	H1 25£000 source
Operating activities
Profit for the period	7,369	10,646	7,439
Adjustments for
Tax charge	2,937	2,749	2,593
Finance costs	430	525	488
Finance income	(463)	(466)	(517)
Profit on disposal of property	-	–	-
Profit on disposal of plant and equipment and right-of-use assets	(315)	(518)	(659)
Depreciation of property, plant and equipment	3,269	3,048	2,632
Depreciation of right-of-use assets	1,565	1,681	1,588
Difference between pension contributions paid and amounts recognised in the Income Statement	83	63	68
Increase in inventories	(1,245)	(1,577)	(700)
(Increase)/ decrease in receivables	(1,048)	(1,202)	2,108
Increase/ (decrease) in payables	253	–	(481)
Movement in provisions	(97)	448	37
Cash generated from continuing operations	12,738	14,098	14,596
Interest paid	(429)	(525)	(488)
Corporation tax paid	(3,533)	(1,897)	(2,941)
Net cash inflow from operating activities	8,776	11,676	11,167
Investing activities
Disposal of property, plant and equipment	333	–	278
Disposal of property	-	1,255	-
Purchase of property, plant and equipment	(3,068)	(2,962)	(4,317)
Interest received	411	406	424
Net cash outflow from investing activities	(2,324)	(535)	(3,615)
Financing activities
Capital repayments for right-of-use lease Obligations	(1,483)	(1,555)	(1,498)
Equity dividends paid	(5,860)	(4,981)	(5,860)
Net cash outflow from financing activities	(7,343)	(6,536)	(7,358)
Net (decrease)/ increase in cash and cash equivalents	(891)	4,605	194
Cash and cash equivalents at the start of the period	28,386	-	23,181
Effect of foreign exchange rate changes	(96)	369	37
Cash and cash equivalents at the end of the period	27,399	4,974	23,412

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	79.4	76.5	75.9
Gross profit	51.0	48.9	49.2
Adjusted EBITDA	–	30.2	30.9
EBITDA	31.4	30.2	–
Operating profit	23.7	23.5	23.2
Depreciation (owned assets)	6.3	5.7^r	(6.0)
Depreciation (right-of-use)	3.2	3.3^r	(2.9)
Operating profit to net income
Finance costs	(1.0)	(1.0)	(1.1)
Profit before tax	23.7	23.4	23.2
Tax	(5.7)	(5.3)	(6.4)
Net income (owners)	18.0	18.1	16.8
Per share
EPS basic	43.0p	43.2p	40.1p
EPS diluted	43.0p	43.2p	40.1p
Dividend per share	14.0p	14.0p	14.0p

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	40.9	+8%	38.6	37.9
Gross profit	25.9	+9%	25.1	23.8
EBITDA	14.8	+9%	16.6	13.6
Operating profit	10.3	+3%	13.5	10.0
Depreciation (owned assets)	3.3	+24%	3.0	2.6
Depreciation (right-of-use)	1.6	−1%	1.7	1.6
Operating profit to net income
Finance costs	(0.4)	−12%	(0.5)	(0.5)
Profit before tax	10.3	+3%	13.4	10.0
Tax	(2.9)	+13%	(2.7)	(2.6)
Net income (owners)	7.4	−1%	10.6	7.4
Per share
EPS basic	17.6p	–	25.4p	17.8p
EPS diluted	17.6p	–	25.4p	17.8p
Dividend per share	11.9p	–	2.1p	11.9p

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	20.5	22.8	20.3
Interest paid	(1.0)	(1.0)	(1.0)
Tax paid	(5.4)	(4.8)	(6.6)
Investing activities
Capex (PP&E)	(6.0)	(7.3)	(5.4)
Financing activities
Lease principal paid	(3.0)	(3.1)	(2.9)
Dividends paid	(10.8)	(10.8)	(10.8)

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	8.8	−21%	11.7	11.2
Interest paid	(0.4)	−12%	(0.5)	(0.5)
Tax paid	(3.5)	+20%	(1.9)	(2.9)
Investing activities
Capex (PP&E)	(3.1)	−29%	(3.0)	(4.3)
Financing activities
Lease principal paid	(1.5)	−1%	(1.6)	(1.5)
Dividends paid	(5.9)	0%	(5.0)	(5.9)

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Property, plant & equipment	22.2	21.6	19.4
Non-current assets	–	37.3	36.1
Current assets
Inventories	4.2	3.8	2.4
Trade receivables	18.4	17.3	17.9
Cash	27.4	28.4	23.2
Current assets	50.5	50.1	44.2
Total assets	–	87.4	80.3
Current liabilities
Trade payables	15.9	15.6	15.9
Lease liabilities, current	2.5	2.9	2.6
Current liabilities	18.4	19.2	18.9
Non-current liabilities
Lease liabilities, non-current	10.4	12.3	13.5
Pension surplus / (deficit)	1.5	1.5	1.8
Non-current liabilities	–	14.7	15.2
Total liabilities	–	33.8	34.1
Equity
Total equity	55.0	53.5	46.2
Net cash and other figures
Net cash / (debt) incl. leases	14.5	13.2	7.2

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Property, plant & equipment	22.2	21.6	21.5	19.4
Non-current assets	–	37.3	–	36.1
Current assets
Inventories	4.2	3.8	2.8	2.4
Trade receivables	18.4	17.3	15.7	17.9
Cash	27.4	28.4	23.4	23.2
Current assets	50.5	50.1	42.6	44.2
Total assets	–	87.4	–	80.3
Current liabilities
Trade payables	15.9	15.6	15.3	15.9
Lease liabilities, current	2.5	2.9	2.8	2.6
Current liabilities	18.4	19.2	18.2	18.9
Non-current liabilities
Lease liabilities, non-current	10.4	12.3	13.7	13.5
Pension surplus / (deficit)	1.5	1.5	1.8	1.8
Non-current liabilities	–	14.7	–	15.2
Total liabilities	–	33.8	–	34.1
Equity
Total equity	55.0	53.5	47.9	46.2
Net cash and other figures
Net cash / (debt) incl. leases	14.5	13.2	6.9	7.2

Read automatically from each results announcement. Check the source before relying on a figure.

Company filings. Not investment advice.