MS INTERNATIONAL (MSI) H1 2025 earnings summary

Executive summary

• Revenue for the half year ended 31st October 2024 was £54.72m, down from £57.02m in 2023, while profit before tax rose to £8.77m from £7.72m year-over-year.

• Basic earnings per share increased to 39.8p from 35.9p year-over-year.

• The Board recommends an increased interim dividend of 5p per share, up from 3p last year.

• Management transition announced, with Michael O'Connell becoming Managing Director and Shelley Ashcroft as Finance Director from January 2025.

Financial highlights

• Gross profit for the half year was £18.56m, up from £18.08m year-over-year.

• Operating profit rose to £8.02m from £7.61m year-over-year.

• Cash and cash equivalents at period end were £27.85m, down from £42.63m year-over-year.

• Final dividend paid for 2024 was 16.5p per share, with an interim dividend of 5p proposed for 2025.

Outlook and guidance

• The company remains optimistic about future performance, citing a strong order book and ongoing strategic review.

• Management expects timing of revenue recognition to be a significant feature due to larger, longer-term contracts.

• No material uncertainties identified regarding going concern, with forecasts showing sufficient headroom even under stress scenarios.