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TRI · Main Market · Industrial Goods and Services · mcap £116m · 87.0p

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Financials · LTM to 31 Mar 26

Source: results 02 Jul 26 ↗

Revenue: £208m
Operating profit: £4.2m
Net income: −£982k
Free cash flow: £9.9m
Net debt: £15.9m
Market cap: £118m
EV / EBIT: 31.7×
FCF yield: +8.4%
Price / book: 1.0×

Latest half-year · H1 Sep 25 vs H1 Sep 24 results 18 Nov 25 ↗

Revenue: £106m
Operating profit: £4.6m
Net income: £1.5m
Cash from operations: £7.8m

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

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 02 Jul 26 · read the results ↗

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

	FY Mar 26	FY Mar 25
Revenue	208.4	223.5
Gross profit	62.5	63.4
Adjusted EBITDA	23.1	22.0
EBITDA	12.4	18.3
Operating profit	4.2	9.4
Depreciation (right-of-use)	3.7	3.5
Share-based payments	1.2	0.4
Finance costs	(4.3)	(4.8)
Profit before tax	0.1	4.9
Tax	(1.0)	(3.9)
Net income (owners)	(1.0)	1.0
EPS basic	(0.7p)	0.8p
EPS diluted	(0.7p)	0.8p
Dividend per share	1.9p	1.8p

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue	102.5	105.8	109.6	113.9
Gross profit	31.9	30.6	32.1	31.2
Operating profit	(0.3)	4.6	5.6	3.8
Depreciation (right-of-use)	2.1	1.6	1.8	1.7
Share-based payments	0.7	0.6	0.8	(0.4)
Profit before tax	(2.5)	2.5	3.4	1.6
Tax	0.0	(1.1)	(3.7)	(0.2)
Net income (owners)	(2.4)	1.5	(0.3)	1.3
EPS basic	(1.8p)	1.1p	(0.2p)	1.0p
EPS diluted	(1.8p)	1.1p	(0.2p)	1.0p
Dividend per share	1.3p	0.6p	–	–

	FY Mar 26	FY Mar 25
Cash from operations	16.7	16.9
Interest paid	(4.3)	(4.7)
Tax paid	(3.5)	(2.2)
Capex (PP&E)	(3.5)	(3.4)
Lease principal paid	(3.3)	(4.4)
Dividends paid	(2.4)	(2.4)
Shares issued	0.1	0.0

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Cash from operations	9.0	7.8	7.5	9.4
Interest paid	(2.4)	(1.9)	(2.2)	(2.4)
Tax paid	(2.1)	(1.4)	(0.6)	(1.6)
Lease principal paid	(1.8)	(1.5)	(2.8)	(1.6)
Dividends paid	(1.6)	(0.8)	(1.6)	(0.8)

	FY Mar 26	FY Mar 25
Goodwill	27.2	28.0
Property, plant & equipment	18.9	18.6
Associates & JVs	–	0.4
Inventories	64.1	70.9
Trade receivables	54.9	55.3
Cash	32.4	24.3
Current assets	151.5	150.5
Total assets	223.2	223.6
Trade payables	31.2	34.6
Lease liabilities, current	2.9	2.8
Current liabilities	36.2	41.2
Borrowings, non-current	48.4	41.6
Lease liabilities, non-current	17.0	18.5
Total liabilities	107.6	107.9
Total equity	115.6	115.7

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Goodwill	27.2	–	28.0	–
Property, plant & equipment	18.9	20.0	18.6	18.4
Associates & JVs	–	0.4	0.4	0.2
Inventories	64.1	74.2	70.9	74.5
Trade receivables	54.9	52.5	55.3	55.2
Cash	32.4	29.1	24.3	25.1
Current assets	151.5	155.8	150.5	154.8
Total assets	223.2	232.0	223.6	228.6
Trade payables	31.2	34.3	34.6	40.0
Lease liabilities, current	2.9	2.4	2.8	3.7
Current liabilities	36.2	40.8	41.2	47.1
Borrowings, non-current	48.4	46.5	41.6	40.4
Lease liabilities, non-current	17.0	18.1	18.5	14.9
Total liabilities	107.6	109.3	107.9	106.7
Total equity	115.6	122.7	115.7	121.8

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.