Alumasc Group (ALU): H2-weighted FY25/26 recovery

This situation live

£82m · 231.0p · −32% since the first step

16 Apr 2026 · H2 recovery partial; profit guidance cut to ~£11m · −2% until the next step now expects FY25/26 underlying profit before tax to be approximately £11m.

17 Jul 2026 · FY26 UPBT ~£10m, slightly below April guide · +6% until the next step Underlying profit before tax1 ('UPBT') expected to be approximately £10m (FY25: £14m)

Upgrade / downgrade cycle

H2-weighted FY25/26 recovery

FY26 delivered at £10.0m; FY27 start positive

Next: FY27 margin improvement and trading

Every step · 5

24 Oct 2025 Cautious H1; H2 weighting maintained – The Board still expects a second-half weighting to FY25/26, as announced at the FY24/25 full year results. ↗
3 Feb 2026 H1 weak as flagged; H2 weighting reaffirmed – As a result, the Board remains confident in the Group achieving its expectations for the year to June 2026, and in the significant opportunities available... ↗
16 Apr 2026 H2 recovery partial; profit guidance cut to ~£11m – now expects FY25/26 underlying profit before tax to be approximately £11m. ↗
17 Jul 2026 FY26 UPBT ~£10m, slightly below April guide – Underlying profit before tax1 ('UPBT') expected to be approximately £10m (FY25: £14m) ↗
15 Sep 2026 FY26 delivered at £10.0m; FY27 start positive – The Board remains confident of improved FY27 margins, supported by restructuring benefits and operational improvements ↗

What is happening

Alumasc Group: H2-weighted FY25/26 recovery – FY26 delivered at £10.0m; FY27 start positive. ['FY26 delivered at £10.0m; FY27 start positive']

In short: The H2-weighted recovery flagged in October 2025 proved partial: guidance was cut to ~£11m in April 2026 and the July update said ~£10m. The 15 September 2026 results confirm FY26 UPBT of £10.0m (FY25 £14.2m) on revenue of £107.1m. FY27 started with revenue up 5%, the order book is up 56%, and the Board expects better margins.
Announced: 24 Oct 2025 · Cautious H1; H2 weighting maintained
Latest: 15 Sep 2026 · FY26 delivered at £10.0m; FY27 start positive
FY26 revenue: £107.1m (FY25: £113.4m)
Consensus: Board understands consensus at £108.9m revenue and £10.9m UPBT
Net debt: £6.9m, leverage 0.5x
Order book: 49% above June 2025
Next milestone: FY26 results in September 2026
FY27 start: Revenue up 5% in first two months; order book up 56% at 31 August 2026
Margin target: Medium-term operating margin 15-20% reaffirmed
Savings: £1.3m annualised in FY26; further £0.9m expected in FY27

FY27 margin improvement and trading.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

From the company's own announcements. Not investment advice.

Also at Alumasc Group 2 open