Interim Trading Update
Mincon Group plc reported a positive trading update for the first quarter of 2026, carrying forward momentum from the previous year with strengthening order books driven by robust demand in the construction industry, particularly in North America. While gross margins improved due to manufacturing efficiencies, expansion was somewhat limited by a significant rise in carbide costs, which are being passed on where feasible. Despite challenging conditions in certain mining regions, the Group remains resilient and is actively pursuing new opportunities across both construction and mining sectors, maintaining a positive outlook for sustained performance throughout the year.
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Dublin, London 29 April 2026:Mincon Group plc (Euronext:MIO; AIM:MCON), the Irish engineering group specialising in the design, manufacture, sale and servicing of rock drilling tools and associated consumable products, today, ahead of its AGM, provides a trading update for the period from 1st January 2026 to date, incorporating the first quarter to 31st March 2026.
The Group has successfully carried forward the positive momentum from 2025 into the first quarter of 2026. This ongoing progress is reflected in the strengthening of our order books throughout the period, driven by robust demand for our products within the construction industry.
The growth in large-scale construction projects across North America has been the primary factor contributing to increased revenue compared to the same period last year. As anticipated, our gross margin has improved, supported by ongoing efforts to enhance manufacturing efficiency. Nevertheless, margin expansion has been somewhat constrained by a significant rise in the cost of carbide. Where feasible, these increased costs are being passed on to customers.
Whilst the mining market remains challenging in certain regions, with ongoing geopolitical uncertainties and increased energy costs, to date, the Group is proving resilient to these challenges. We are actively pursuing new opportunities in both the construction and mining industries across all our operating regions and remain positive that the improvement in performance can be sustained during the year.
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