Built Cybernetics plc

BUC · AIM · Construction and Materials · mcap £6.3m · 1.6p

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Financials · LTM to 31 Mar 26

Source: results 24 Jun 26 ↗

Revenue: £19.6m
Operating profit: −£128k
Net income: −£507k
Free cash flow: −£790k
Net debt: £1.3m
Market cap: £6.3m
EV / EBIT: –
FCF yield: −12.4%
Price / book: 3.2×

Latest half-year · H1 Mar 26 vs H1 Mar 25 results 24 Jun 26 ↗

Revenue: £9.9m
Operating profit: −£370k
Net income: −£579k
Cash from operations: £305k

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

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year Results, published 24 Jun 26 · read the announcement ↗

Consolidated income statement · For the six months ended 31 March 2026

	Unaudited six months to 31 March 2026 £'000	Unaudited six months to 31 March 2025 £'000	Audited year to 30 September 2025 £'000
Continuing Operations
Revenue	9,883	10,310	20,061
Sub consultant costs	(334)	(183)	(343)
Revenue less sub consultant costs	9,549	10,127	19,718
Cost of sales	(1,879)	(2,964)	(4,669)
Gross profit	7,670	7,163	15,049
Personnel related costs	(6,475)	(5,586)	(11,860)
Property related costs	(676)	(835)	(866)
Other operating expenses	(1,022)	(790)	(2,097)
Distribution costs	(136)	(123)	(270)
Other operating income	269	132	247
Operating (loss)/profit	(370)	(39)	203
Finance income	6	5	16
Finance costs	(177)	(106)	(299)
Loss after finance costs	(541)	(140)	(80)
Share of results of associate and joint ventures	6	77	157
Trading (loss)/profit from continuing operations	(535)	(63)	77
Acquisition costs	(11)	-	-
Loss on disposal of subsidiary	(5)	-	-
(Loss)/profit before tax from continuing operations	(551)	(63)	77
Tax	(29)	39	34
(Loss)/profit from continuing operations	(580)	(24)	111
Profit/(loss) from discontinued operations	1	(79)	(142)
Loss for the period	(579)	(103)	(31)
Loss attributable to
Owners of Built Cybernetics plc	(579)	(103)	(31)
Non-controlling interests	-	-	-
Loss for the period	(579)	(103)	(31)
Basic earnings per share	(0.16p)	(0.01p)	0.03p
Diluted earnings per share	(0.15p)	(0.01p)	0.03p
Basic earnings per share	(0.16p)	(0.03p)	(0.01p)
Diluted earnings per share	(0.15p)	(0.03p)	(0.01p)

Consolidated statement of financial position · At 31 March 2026

	Unaudited at 31 March 2026 £'000	Unaudited at 31 March 2025 £'000	Audited at 30 September 2025 £'000
Non current assets
Goodwill	1,915	1,814	1,814
Other intangible assets	1,198	729	939
Property, plant and equipment	153	154	188
Right-of-use assets	1,651	1,465	1,887
Investment in associate and joint ventures	902	992	986
Loans and other financial assets	2	7	2
Trade and other receivables	-	31	31
Deferred tax	599	596	599
Total non current assets	6,420	5,788	6,446
Current assets
Trade and other receivables	3,020	4,108	3,582
Inventories	293	369	262
Contract assets	970	1,668	1,246
Cash at bank and in hand	189	231	536
	4,472	6,376	5,626
Assets in disposal groups classified as held for sale	-	-	118
Total current assets	4,472	6,376	5,744
Total assets	10,892	12,164	12,190
Current liabilities
Trade and other payables	(4,390)	(4,870)	(4,053)
Contract liabilities	(1,166)	(2,161)	(1,861)
Borrowings	(328)	(720)	(383)
Lease liabilities	(340)	(547)	(236)
Provisions	-	(120)	-
	(6,224)	(8,418)	(6,533)
Liabilities directly associated with assets in disposal groups classified as held for sale	-	-	(177)
Total current liabilities	(6,224)	(8,418)	(6,710)
Non current liabilities
Trade and other payables	-	(86)	(29)
Borrowings	(1,130)	(9)	(1,115)
Lease liabilities	(1,300)	(985)	(1,518)
Deferred tax	(23)	(21)	(26)
Provisions	(210)	(354)	(210)
Total non current liabilities	(2,663)	(1,455)	(2,898)
Total liabilities	(8,887)	(9,873)	(9,608)
Net assets	2,005	2,291	2,582
Capital and reserves
Share capital	3,555	3,411	3,555
Merger reserve	2,982	2,979	2,982
Foreign currency translation reserve	(511)	(551)	(496)
Retained earnings	(5,515)	(5,042)	(4,953)
Other distributable reserve	1,494	1,494	1,494
Total equity attributable to equity holders of the Company	2,005	2,291	2,582

Consolidated statement of cash flows · For the six months ended 31 March 2026

	Unaudited six months to 31 March 2026 £'000	Unaudited six months to 31 March 2025 £'000	Audited year to 30 September 2025 £'000
Cash flows from operating activities
Cash generated from operations	305	275	80
Income taxes received	-	34
Net cash inflow from operating activities	305	275	114
Cash flows from investing activities
Purchase of property, plant and equipment	(19)	(45)	(138)
Sale of property, plant and equipment	-	-	10
Payment of software development costs	(381)	(192)	(448)
Net cash paid on acquisition of subsidiaries	(101)	-	-
Sale of subsidiaries	59	31	31
Dividends received	87	83	211
Net cash paid from investing activities	(355)	(123)	(334)
Net cash (outflow)/inflow before financing activities	(50)	152	(220)
Cash flows from financing activities
Issue of shares	-	-	147
Convertible loan notes issued	15	-	1,115
Principal paid on lease liabilities	(114)	(276)	(263)
Interest paid on lease liabilities	(46)	(28)	(66)
Proceeds/(repayment) of borrowings	129	118	(243)
Interest received	6	5	16
Interest paid	(131)	(106)	(236)
Net cash (outflow)/inflow from financing activities	(141)	(287)	470
Net change in cash and cash equivalents	(191)	(135)	250
Cash and cash equivalents at start of period	393	189	189
Currency translation differences	(13)	8	(46)
Cash and cash equivalents at end of period	189	62	393
Cash and cash equivalents are comprised of
Cash at bank and in hand	189	231	536
Net cash included in assets held for sale	-	-	41
Secured bank overdrafts	-	(169)	(184)
Cash and cash equivalents at end of year	189	62	393

Final Results, published 23 Mar 26 · read the announcement ↗

Consolidated income statement · For the year ended 30 September 2025

	2025 £'000	2024 £'000
Continuing operations
Revenue	20,061	18,633
Sub consultant costs	(343)	(265)
Revenue less sub consultant costs	19,718	18,368
Cost of sales	(4,669)	(4,462)
Gross profit	15,049	13,906
Personnel related costs	(11,860)	(11,143)
Property related costs	(866)	(1,532)
Other operating expenses	(2,097)	(1,545)
Distribution costs	(270)	(218)
Other operating income	247	500
Operating profit/(loss)	203	(32)
Finance income	16	13
Finance costs	(299)	(458)
Loss after finance costs	(80)	(477)
Share of results of associate and joint ventures	157	156
Trading profit/(loss) from continuing operations	77	(321)
Acquisition costs	-	(41)
Revaluation of freehold property	-	(585)
Loss on disposal of subsidiary	-	(88)
Supplementary call levy to mutual insurer	-	(264)
Profit/loss) before tax from continuing operations	77	(1,299)
Tax credit	34	221
Profit/(loss) from continuing operations	111	(1,078)
Loss from discontinued operations	(142)	(629)
Loss for the year	(31)	(1,707)
Loss attributable to
Owners of Built Cybernetics plc	(31)	(1,707)
Basic earnings per share	0.03p	(0.34p)
Diluted earnings per share	0.03p	(0.32p)
Basic earnings per share	(0.01p)	(0.54p)
Diluted earnings per share	(0.01p)	(0.50p)

Consolidated statement of financial position

	2025 £'000	2024 £'000
Non current assets
Goodwill	1,814	1,814
Other intangible assets	939	573
Property, plant and equipment	188	176
Right-of-use assets	1,887	1,713
Investment in associate	696	732
Investments in joint ventures	290	263
Loans and other financial assets	2	7
Trade and other receivables	31	61
Deferred tax	599	596
Total non current assets	6,446	5,935
Current assets
Inventories	262	393
Trade and other receivables	3,582	5,026
Contract assets	1,246	1,750
Cash at bank and in hand	536	353
	5,626	7,522
Assets in disposal groups classified as held for sale	118	-
Total current assets	5,744	7,522
Total assets	12,190	13,457
Current liabilities
Trade and other payables	(4,053)	(5,483)
Contract liabilities	(1,861)	(2,585)
Borrowings	(383)	(522)
Lease liabilities	(236)	(528)
Provisions	-	(120)
	(6,533)	(9,238)
Liabilities directly associated with assets in disposal groups classified as held for sale	(177)	-
Total current liabilities	(6,710)	(9,238)
Non current liabilities
Trade and other payables	(29)	(86)
Borrowings	(1,115)	(84)
Lease liabilities	(1,518)	(1,279)
Deferred tax	(26)	(23)
Provisions	(210)	(354)
Total non current liabilities	(2,898)	(1,826)
Total liabilities	(9,608)	(11,064)
Net assets	2,582	2,393
Capital and reserves
Share capital	3,555	3,411
Merger reserve	2,982	2,979
Revaluation reserve	-	-
Foreign currency translation reserve	(496)	(535)
Retained earnings	(4,953)	(4,956)
Other distributable reserve	1,494	1,494
Total equity attributable to equity holders of the Company	2,582	2,393

Consolidated statement of cash flows · For the year ended 30 September 2025 · Cash generated from operations

	2025 £'000	2024 £'000
Cash flows from operating activities
Income taxes received	34	-
Net cash inflow from operating activities	114	89
Cash flows from investing activities
Purchase of property, plant and equipment	(138)	(169)
Sale of property, plant and equipment	10	2,453
Payments of software development costs	(448)	(221)
Sale of investments	31	(52)
Sale of loans and other financial assets	-	59
Net cash paid on acquisition of subsidiaries	-	(51)
Dividends received from associates & joint ventures	211	192
Net cash (paid from)/received in investing activities	(334)	2,211
Net cash (outflow)/inflow before financing activities	(220)	2,300
Cash flows from financing activities
Issue of shares	147	482
Principal paid on lease liabilities	(263)	(514)
Convertible loan notes issued	1,115	-
Interest paid on lease liabilities	(66)	(68)
Lease liability additions	-	79
Repayment of bank loans	(243)	(2,167)
Interest received	16	13
Interest paid	(236)	(370)
Net cash inflow/(outflow) from financing activities	470	(2,545)
Net change in cash and cash equivalents	250	(245)
Cash and cash equivalents at start of year	189	430
Currency translation differences	(46)	4
Cash and cash equivalents at end of year	393	189
Cash and cash equivalents are comprised of
Cash at bank and in hand	536	353
Net cash included in assets held for sale	41	-
Secured bank overdrafts	(184)	(164)
Cash and cash equivalents at end of year	393	189
Company statement of cash flows
For the year ended 30 September 2025
Note 2025 £'000 2024 £'000
Cash flows from operating activities
Cash expended by operations	(1,415)	(480)
Interest paid	(26)	(8)
Net cash outflow from operating activities	(1,441)	(488)
Cash flows from investing activities
Purchase of investments	(45)	(45)
Sale of investments	31	33
Dividends received from associates & joint ventures	202	183
Net cash generated from investing activities	188	171
Net cash outflow before financing activities	(1,253)	(317)
Cash flows from financing activities
Issue of shares	147	482
Convertible loan notes issued	1,115	-
Repayment of bank loans	-	(167)
Net cash inflow from financing activities	1,262	315
Net change in cash and cash equivalents	9	(2)
Cash and cash equivalents at start of year	(1)	1
Cash and cash equivalents at end of year	8	(1)
Cash and cash equivalents are comprised of
Cash at bank and in hand	8	-
Secured bank overdrafts	-	(1)
Cash and cash equivalents at end of year	8	(1)

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 Mar 26 (six months to 31 Mar 26), published 24 Jun 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue to operating profit
Revenue	19.6	20.1	18.6
Gross profit	15.6	15.0	13.9
Operating profit	(0.1)	0.2	(0.0)
Depreciation (owned assets)	0.1	0.1	–
Depreciation (right-of-use)	0.5	0.5	–
Amortisation	0.2	0.1	–
Share-based payments	0.0	0.0	–
Operating profit to net income
Finance costs	(0.4)	(0.3)	(0.5)
Profit before tax	(0.4)	0.1	(1.3)
Tax	(0.0)	0.0	0.2
Net income (owners)	(0.5)	(0.0)	(1.7)
Discontinued operations	(0.1)	(0.1)	(0.6)
Per share
EPS basic	(0.1p)	(0.0p)	(0.5p)
EPS diluted	(0.1p)	(0.0p)	(0.5p)

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue to operating profit
Revenue	9.9	−4%	9.8	10.3
Gross profit	7.7	+7%	7.9	7.2
Operating profit	(0.4)	n/m	0.2	(0.0)
Depreciation (owned assets)	0.1	n/m	0.0	0.1
Depreciation (right-of-use)	0.2	−2%	0.3	0.2
Amortisation	0.1	n/m	0.0	0.0
Share-based payments	0.0	n/m	0.0	0.0
Operating profit to net income
Finance costs	(0.2)	+67%	(0.2)	(0.1)
Profit before tax	(0.6)	n/m	0.1	(0.1)
Tax	(0.0)	n/m	(0.0)	0.0
Net income (owners)	(0.6)	n/m	0.1	(0.1)
Discontinued operations	0.0	n/m	(0.1)	(0.1)
Per share
EPS basic	(0.2p)	–	0.0p	(0.0p)
EPS diluted	(0.1p)	–	0.0p	(0.0p)

	LTM Mar 26	FY Sep 25	FY Sep 24
Operating activities
Cash from operations	0.1	0.1	0.1
Interest paid	(0.3)	(0.2)	(0.4)
Investing activities
Capex (PP&E)	(0.1)	(0.1)	(0.2)
Capex (intangibles)	(0.6)	(0.4)	(0.2)
Financing activities
Lease principal paid	(0.1)	(0.3)	(0.5)
Lease interest paid	(0.1)	(0.1)	(0.1)
Shares issued	0.1	0.1	0.5

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Operating activities
Cash from operations	0.3	+11%	(0.2)	0.3
Interest paid	(0.1)	+24%	(0.1)	(0.1)
Investing activities
Capex (PP&E)	(0.0)	n/m	(0.1)	(0.0)
Capex (intangibles)	(0.4)	+98%	(0.3)	(0.2)
Financing activities
Lease principal paid	(0.1)	−59%	0.0	(0.3)
Lease interest paid	(0.0)	n/m	(0.0)	(0.0)
Shares issued	0.0	n/m	0.1	0.0

	Latest Mar 26	FY Sep 25	FY Sep 24
Non-current assets
Goodwill	1.9	1.8	1.8
Other intangibles	1.2	0.9	0.6
Property, plant & equipment	0.2	0.2	0.2
Associates & JVs	0.9	1.0	0.7
Non-current assets	6.4	6.4	5.9
Current assets
Inventories	0.3	0.3	0.4
Trade receivables	3.0	3.6	5.0
Cash	0.2	0.5	0.4
Current assets	4.5	5.7	7.5
Total assets	10.9	12.2	13.5
Current liabilities
Trade payables	4.4	4.1	5.5
Borrowings, current	0.3	0.4	0.5
Lease liabilities, current	0.3	0.2	0.5
Current liabilities	6.2	6.7	9.2
Non-current liabilities
Borrowings, non-current	1.1	1.1	0.1
Lease liabilities, non-current	1.3	1.5	1.3
Non-current liabilities	2.7	2.9	1.8
Total liabilities	8.9	9.6	11.1
Equity
Total equity	2.0	2.6	2.4
Net cash and other figures
Net cash / (debt) ex leases	(1.3)	(0.9)	–
Net cash / (debt) incl. leases	(1.3)	(0.9)	–
Undrawn facilities	–	0.9	–

	H1 Mar 26	H2 Sep 25	H1 Mar 25	H2 Sep 24
Non-current assets
Goodwill	1.9	1.8	1.8	1.8
Other intangibles	1.2	0.9	0.7	0.6
Property, plant & equipment	0.2	0.2	0.2	0.2
Associates & JVs	0.9	1.0	1.0	0.7
Non-current assets	6.4	6.4	5.8	5.9
Current assets
Inventories	0.3	0.3	0.4	0.4
Trade receivables	3.0	3.6	4.1	5.0
Cash	0.2	0.5	0.2	0.4
Current assets	4.5	5.7	6.4	7.5
Total assets	10.9	12.2	12.2	13.5
Current liabilities
Trade payables	4.4	4.1	4.9	5.5
Borrowings, current	0.3	0.4	0.7	0.5
Lease liabilities, current	0.3	0.2	0.5	0.5
Current liabilities	6.2	6.7	8.4	9.2
Non-current liabilities
Borrowings, non-current	1.1	1.1	0.0	0.1
Lease liabilities, non-current	1.3	1.5	1.0	1.3
Non-current liabilities	2.7	2.9	1.5	1.8
Total liabilities	8.9	9.6	9.9	11.1
Equity
Total equity	2.0	2.6	2.3	2.4
Net cash and other figures
Net cash / (debt) ex leases	(1.3)	(0.9)	(0.5)	–
Net cash / (debt) incl. leases	(1.3)	(0.9)	(0.5)	–
Undrawn facilities	–	0.9	–	–

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.