Helios Underwriting

HUW · AIM · Insurance · mcap £177m · 255.0p

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Financials · LTM to 30 Jun 26

Source: results 29 Sep 26 ↗

Revenue: –
Operating profit: –
Net income: £20.5m
Free cash flow: –
Net cash: –
£2.10m paid to shareholders after 30 Jun 26 (10 Jul 2026) – source
Market cap: £177m
EV / EBIT: –
FCF yield: –
Price / book: 1.0×

Latest half-year · H1 26 vs H1 25 results 29 Sep 26 ↗

Net income: £11.0m
Cash from operations: −£7.9m

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 29 Sep 26 · read the results ↗

	FY 25£'000 source	FY 24£'000 source
Income
Interest income	1,049	1,273
Dividend income	69	-
Net gains on financial assets at FVTPL	29,132	34,512
Other income	189	212
Total income	30,439	35,997
Expenses
Operating expenses	(6,811)	(7,756)
Interest expense	(6,469)	(6,063)
Other expenses	(641)	(1,249)
Total expenses	(13,921)	(15,068)
Operating profits	16,518	20,929
Foreign exchange movements	4,029	-
Net profit before income tax	20,547	20,929
Income tax (charge)/credit	-	(2,354)
Net profit for the year after tax	20,547	18,575
Basic EPS	29.0	25.6
Diluted EPS	27.7	24.5

	H1 26£'000 source	H2 25£'000 calc.	H1 25£'000 source
Income
Interest income	122	558	491
Dividend income	10,313	69	-
Net gains on financial assets at FVTPL	7,296	24,404	4,728
Other income	103	89	100
Total income	17,834	25,120	5,319
Expenses
Operating expenses	(3,175)	(4,663)	(2,148)
Interest expense	(3,009)	(3,686)	(2,783)
Other expenses	-	350	(991)
Total expenses	(6,184)	(7,999)	(5,922)
Operating profits	11,650	17,121	(603)
Foreign exchange movements	(668)	(988)	5,017
Net profit before income tax	10,982	16,133	4,414
Income tax (charge)/credit	-	-	-
Net profit for the year after tax	10,982	16,133	4,414
Basic EPS (pence)	16.05	–	6.19
Diluted EPS (pence)	15.28	–	5.92
Condensed Statement of Financial Position
As at 30 June 2026
30 June 2026 31 December 2025
£'000 £'000
Note
Assets
Equity investments at FVTPL	192,846	–	182,244
Due from related parties	37,662	–	37,797
Other debtors	165	–	110
Cash and cash equivalents	20,516	–	28,990
Total assets	251,189	–	249,141
Liabilities
Borrowings	55,259	–	54,336
Due to related parties	1,221	–	10,313
Other creditors	74	–	144
Accruals and other payables	10,490	–	4,069
Total liabilities	67,044	–	68,862
Equity
Share capital	7,522	–	7,522
Treasury shares	(8,866)	–	(8,265)
Share premium	99,240	–	99,240
Other reserves	1,756	–	1,430
Retained earnings	84,493	–	80,352
Total equity	184,145	–	180,279
Total liabilities and equity	251,189	–	249,141

	30 Jun 26£'000 source	31 Dec 25£'000 source	31 Dec 24£'000 source
Assets
Equity investments at FVTPL	192,846	182,244	151,917
Due from related parties	37,662	37,797	62,048
Other debtors	165	110	110
Cash and cash equivalents	20,516	28,990	28,935
Total assets	251,189	249,141	243,010
Liabilities
Borrowings	55,259	54,336	58,457
Due to related parties	1,221	10,313	6,881
Other creditors	74	144	106
Accruals and other payables	10,490	4,069	4,450
Total liabilities	67,044	68,862	69,894
Equity
Share capital	7,522	7,522	7,811
Treasury shares	(8,866)	(8,265)	(8,265)
Share premium	99,240	99,240	98,882
Other reserves	1,756	1,430	786
Retained earnings	84,493	80,352	73,902
Total equity	184,145	180,279	173,116
Total liabilities and equity	251,189	249,141	243,010

	30 Jun 26£'000 source	31 Dec 25£'000 source	31 Dec 24£'000 source
Assets
Equity investments at FVTPL	192,846	182,244	151,917
Due from related parties	37,662	37,797	62,048
Other debtors	165	110	110
Cash and cash equivalents	20,516	28,990	28,935
Total assets	251,189	249,141	243,010
Liabilities
Borrowings	55,259	54,336	58,457
Due to related parties	1,221	10,313	6,881
Other creditors	74	144	106
Accruals and other payables	10,490	4,069	4,450
Total liabilities	67,044	68,862	69,894
Equity
Share capital	7,522	7,522	7,811
Treasury shares	(8,866)	(8,265)	(8,265)
Share premium	99,240	99,240	98,882
Other reserves	1,756	1,430	786
Retained earnings	84,493	80,352	73,902
Total equity	184,145	180,279	173,116
Total liabilities and equity	251,189	249,141	243,010

	FY 25£'000 source	FY 24£'000 source
Cash flows from operating activities
Profit before tax	20,547	20,929
Adjustments for
- Net gain on financial assets at FVTPL	(29,132)	(34,511)
- Purchase of equity investments	(1,195)	(1,520)
Changes in operating assets and liabilities
- Decrease/(increase) in due from related parties	24,253	8,017
- Decrease/(increase) in due to related parties	3,432	1,349
- Decrease/(increase) in other debtors	-	177
- (Decrease)/increase in accruals and other payables	411	1,883
Net cash (used in)/provided by operating activities	18,316	(3,676)
Cash flows from financing activities	-	-
New shares issued	-	-
Reduction of shares	(6,959)	(4,529)
Net proceeds from borrowings	-	-
Repayment of borrowings	-	(204)
Foreign exchange on net borrowings	(4,372)	942
Debt raise expense releases	208	226
Dividends paid	(7,138)	(4,419)
Net cash (used in)/provided by financing activities	(18,261)	(7,984)
Net increase/(decrease) in cash and cash equivalents	55	(11,660)
Cash and cash equivalents at beginning of year	28,935	40,596
Cash and cash equivalents at end of year	28,990	28,935

	H1 26£'000 source	H2 25£'000 calc.	H1 25£'000 source
Cash flows from operating activities
Profit before tax	10,982	16,133	4,414
Adjustments for
-Net gain on financial assets at FVTPL	(7,296)	(24,404)	(4,728)
-Foreign exchange on net borrowings	668	645	(5,017)
-Dividend received	(10,313)	–	-
-Equity Settled Share Based Payments	326	–	-
-Debt raise expenses release	106	–	-
Changes in operating assets and liabilities
- Decrease/(increase) in due from related parties	135	(744)	24,997
- Decrease/(increase) in due to related parties	1,221	2,326	1,106
- Decrease/(increase) in other debtors	(55)	(299)	299
- (Decrease)/increase in accruals and other payables	(341)	865	(454)
- Purchase of equity investments	(3,306)	(1,195)	-
Net cash used in operating activities	(7,873)	–	20,616
Cash flows from financing activities
Share buy back	(601)	–	-
Net cash (used in)/provided by financing activities	(601)	(18,261)	-
Net increase/(decrease) in cash and cash equivalents	(8,474)	(20,561)	20,616
Cash and cash equivalents at beginning of year	28,990	-	28,935
Cash and cash equivalents at end of year	20,516	(20,561)	49,551

	LTM Jun 26	FY 25	FY 24
Operating profit to net income
Profit before tax	27.1	20.5	20.9
Net income (owners)	–	20.5	–

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Share-based payments	0.3	–	–	–
Operating profit to net income
Fair value gains / losses	(7.3)	+54%	–	(4.7)
Profit before tax	11.0	+149%	16.1	4.4
Net income (owners)	11.0	–	–	–

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(10.2)	18.3	(3.7)
Financing activities
Dividends paid	–	(7.1)	(4.4)
Share buybacks	–	(7.0)	(4.5)

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(7.9)	n/m	(2.3)	20.6
Financing activities
Share buybacks	(0.6)	–	–	–

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other investments	192.8	182.2	–
Current assets
Cash	20.5	29.0	28.9
Total assets	251.2	249.1	243.0
Non-current liabilities
Borrowings, non-current	55.3	54.3	58.5
Total liabilities	67.0	68.9	69.9
Equity
Total equity	184.1	180.3	173.1
Net cash and other figures
Net asset value	184.1	180.3	173.1
Shares in issue	68.3m	68.5m	71.3m
Treasury shares	-8.9m	-8.3m	-8.3m

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other investments	192.8	182.2	–
Current assets
Cash	20.5	29.0	28.9
Total assets	251.2	249.1	243.0
Non-current liabilities
Borrowings, non-current	55.3	54.3	58.5
Total liabilities	67.0	68.9	69.9
Equity
Total equity	184.1	180.3	173.1
Net cash and other figures
Net asset value	184.1	180.3	173.1
Shares in issue	68.3m	68.5m	71.3m
Treasury shares	-8.9m	-8.3m	-8.3m

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

Company filings. Not investment advice.