MS INTERNATIONAL (MSI) H2 2025 earnings summary

Executive summary

• Achieved record pre-tax profit of £20.05m for the year ended April 2025, up from £15.71m year-over-year.

• Revenue increased to £117.5m from £109.58m year-over-year.

• Basic earnings per share rose to 90.0p from 71.0p year-over-year.

• Board recommends a final dividend of 18p per share, total 23p for the year.

• Strategic focus shifting primarily to Defence and Security division.

Financial highlights

• Gross profit increased to £39.998m from £33.868m year-over-year.

• Group operating profit rose to £18.72m from £14.75m year-over-year.

• Profit for the year attributable to equity holders was £14.53m, up from £11.5m.

• Cash and cash equivalents at year-end were £27.78m, down from £42.68m.

• Total comprehensive income for the year was £16.1m, up from £13.67m.

Outlook and guidance

• Defence and Security division expected to benefit from increased international defence spending.

• Anticipates short-term impact on revenue recognition due to government reviews and delayed decisions, but remains optimistic for the next two full financial years.

• Forgings division poised to benefit from market recovery and tariff-driven opportunities.

• Petrol Station Superstructures division expects growth in the UK and future recovery in Eastern Europe post-conflict.

• Corporate Branding UK business to continue strong performance; Netherlands expected to return to profitability.