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MS INTERNATIONAL (MSI) investor relations material
MS INTERNATIONAL H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic focus shifted to the 'Defence and Security' division, with continued progress in 'Forgings' and the merged 'Petrol Station Superstructures and Branding' division.
Group revenues were £115.01m, broadly in line with last year, but profit before tax fell to £15.06m from £20.05m year-over-year.
The balance sheet strengthened, with cash and cash equivalents rising to £46.53m from £27.78m.
The order book at year-end was slightly lower due to delays in anticipated defence orders.
Leadership transition: Chairman steps down after 50 years, succeeded by Anthony Wreford as Non-Executive Chairman and Michael O'Connell as Group CEO.
Financial highlights
Revenue: £115.01m (2025: £117.50m); Gross profit: £39.53m (2025: £39.99m).
Operating profit: £13.95m (2025: £18.72m); Profit before tax: £15.06m (2025: £20.05m).
Net profit attributable to equity holders: £11.02m (2025: £14.53m).
Basic EPS: 67.4p (2025: 90.0p); Diluted EPS: 65.7p (2025: 87.0p).
Final dividend proposed: 20p per share (2025: 18p), total for year: 26p (2025: 23p).
Outlook and guidance
Defence and Security division expects international interest in counter-drone systems to convert to orders, with facilities ready to meet demand.
Forgings division outlook is positive, especially in the US, with new strategic customers and flexibility to supply from multiple locations.
Petrol Station Superstructures and Branding division anticipates growth from new superstructure designs and diversification in Europe.
Anticipated easing of market barriers and improved financial performance in the coming year.
- Record profit, revenue growth, and strategic shift to Defence and Security as primary focus.MSI
H2 2025 - Record profit and revenue growth, led by Defence and Security, with strong cash and order book.MSI
H2 2024 - Profit before tax and EPS rose despite lower revenue, with a higher interim dividend proposed.MSI
H1 2025 - Adjusted profit and revenue up, Defence focus and US Navy contract drive future growth.MSI
H1 2026
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