Interim Results
29 September 2026
AIREA plc
(“AIREA”, the “Group” or the “Company”)
Interim results for the six months ended 30 June 2026
Strong first half performance with major manufacturing investment fully operational
AIREA plc (AIM: AIEA), the UK design-led specialist flooring company, manufacturing innovative and sustainable solutions for UK and international markets, today announces its interim results for the six months ended 30 June 2026 (the ‘Period’).
Financial summary
- Group revenue increased by 10.2% to £10.8m (2025: £9.8m)
- Operating profit increased to £0.5m (2025: £0.3m)
- Profit before tax increased to £0.2m (2025: £0.04m loss)
- Earnings per share increased to 0.57p (2025: ((0.54p))
- EBITDA increased to £0.9m (2025: £0.7m)
- Net cash increased to £0.4m (2025: £nil)
Operational highlights
- Major manufacturing investment fully operational
- Strong sales performance in the UK and ROI with year-on-year growth of 10.2%
- Recovery in international markets delivering year-on-year growth of 9.9%
- Group sales volume growth of 7.4%
- Further enhancement of carbon-neutral range with successful launch of surface story® and refresh of arctic®
Martin Toogood, Non-Executive Chairman of AIREA plc, commented:
“The Group has delivered an encouraging trading performance in the first half of the year. Group sales increased by 10.2% above the prior year, with UK and ROI sales 10.2% ahead and international sales recovering to deliver growth of 9.9%.
“The Group has experienced positive trading in the third quarter and the order book remains healthy. The business continues to focus on innovation with further new product launches expected over the remainder of the second half.
“The Board is delighted to report that the major transformational investment in the Group’s manufacturing facility is now fully operational and production is expected to scale up in the coming months. The facility is also expected to further enhance the Group’s sustainability credentials by utilising energy more efficiently. The additional capacity will also provide the Group with a solid platform for growth and enable it to capitalise on future market opportunities.
“While global market conditions remain uncertain and challenging, the Board has continued confidence that its recent investments will provide greater stability to the Group and support the delivery of sustained profitable growth.”
- Ends –
For further information please contact:
AIREA plc
Médéric Payne, Chief Executive Officer
Conleth Campbell, Chief Financial Officer
Tel: +44 (0) 192 426 2525
Singer Capital Markets
(Nominated Adviser and Sole Broker)Peter Steel / Anastassiya Eley
Tel: +44 (0) 20 7496 3000
Northstar Communications
(Financial Media and PR)Sarah Hollins
Tel: +44 (0) 113 730 3896
Notes to Editors
AIREA plc is a UK design-led specialist flooring company, manufacturing innovative and sustainable solutions for UK and international markets.
Through its established Burmatex® brand, the Group designs and supplies high-performance carpet tiles and planks for commercial environments, including education, leisure, commercial, hospitality, and public sectors.
Operating from its facility in West Yorkshire, AIREA combines in-house design and product development with UK manufacturing capabilities. The Group’s major manufacturing investment is best-in-class and now fully operational, providing increased capacity and a scalable platform to support future growth.
Sustainability is central to the Group’s product development strategy, supported by its eco2matters® framework and an expanding portfolio of lower-carbon and carbon-neutral flooring solutions.
Airea was admitted to trading on AIM of the London Stock Exchange on 12 December 2007.
For further information, please visit: https://aireaplc.com/.
Chief Executive Officer’s Statement
Introduction
I am pleased to report the Group’s interim results for the six months ended 30 June 2026. Group sales for the Period were 10.2% ahead of the prior year. The UK and ROI delivered another strong performance, while sales in our international markets recovered strongly despite ongoing economic and geopolitical uncertainty.
The Group’s major transformational investment in its new manufacturing facility is now fully operational. This investment substantially increases capacity and incorporates automated processes using the latest cutting-edge Artificial Intelligence imagery and inspection technology, positioning the facility amongst the best in class. This strategic investment will optimise the facility’s potential, future-proof the business and enhance shareholder returns. Decommissioning of the existing facility will commence in the fourth quarter of 2026.
Results
Revenue for the Period was 10.2% ahead year on year at £10.8m (2025: £9.8m). The UK and ROI delivered another strong performance, with sales at the end of the Period 10.2% ahead of the prior year. Sales in the Group’s international markets performed well, ending the Period 9.9% above the prior year.
Operating profit increased to £0.5m (2025: £0.3m). After charging net finance costs of £0.3m (2025: £0.3m), profit before tax increased to £0.2m (2025: loss of £0.04m). Taxation credit was £0.02m (2025: £0.2m charge), resulting in the Group reporting a profit of £0.2m (2025: loss of £0.2m) with basic earnings per share at 0.57p (2025: (0.54p)).
Operating cash flows before movements in working capital were £0.9m (2025: £0.8m). Working capital movements increased in the period to £0.1m (2025: £1.0m decrease), the prior year movement relating to a reduction of £1.0m in deposits that had been paid at the end of 2024 to suppliers of key components for the new manufacturing facility. As in previous years, following the normal busy summer trading period, the second half of the year is expected to see a reduction in inventory levels. Capital expenditure decreased to £1.1m (2025: £2.5m) as the major investment in the Group’s manufacturing facility neared completion.
Net cash (cash less loans and borrowings) at the end of the Period was £0.4m (2025: £nil). In January 2026, the Group renewed its banking facilities which included secured short-term funding in the form of a supply chain finance facility to the value of £3.2m. As at 30 June 2026, the Group had utilised £0.1m of this facility with interest payable at 2.1% above the Bank of England base rate. The Group has access to further liquidity of £1.0m via its unutilised banking facility (2025: £1.0m).
The deficit on the defined benefit pension scheme continues to decrease and was £2.5m (2025: £4.5m deficit) at the end of the Period. The Group has continued to adhere to its recovery plan commitments that were formally agreed with The Pensions Regulator. The commitments included contributions of £0.3m from the Group, paid in both July 2024 and July 2025, followed by monthly contributions of £62,500 from August 2025. The trustees continue to review the scheme’s investments with the objective of further mitigating its long-term risk profile.
Current Trading and Outlook
The Board is encouraged with the positive trading in the third quarter, despite geopolitical uncertainty. The Group is closely monitoring the ongoing tensions in the Middle East, although its Dubai showroom continues to operate with minimal disruption.
With the major new transformational manufacturing facility now fully operational, the Group is focused on increasing volume throughput to meet customer demand. Delivering growth through this investment remains a fundamental part of the Group’s ongoing strategy, enabling it to expand into new markets with a more sustainable and innovative product range.
The Board is aware of the challenges affecting the wider commercial flooring market. These have had no adverse impact on the Group and may present opportunities to strengthen its market position in the future.
The Group will also maintain its focus on cash preservation and will therefore not be proposing an interim dividend at this time (2025: £nil).
The Board expects the current trading to continue through the remainder of the year and remains confident in the Group’s long-term prospects and ability to deliver sustainable long-term value for our shareholders.
Médéric Payne
Chief Executive Officer
29 September 2026
Consolidated Income Statement
6 months ended 30 June 2026
Unaudited 6 months ended
30 June
2026
Unaudited 6 months ended
30 June
2025
Audited 12 months
ended 31 December
2025
£’000
£’000
£’000
Revenue
10,793
9,817
21,447
Operating costs
(10,308)
(9,366)
(20,474)
Other operating income
-
178
180
Underlying operating profit
485
629
1,153
Non-recurring items
-
(346)
(237)
Operating profit
485
283
916
Finance income
7
-
1
Finance costs
(288)
(327)
(706)
Profit/(loss) before taxation
204
(44)
211
Taxation
17
(163)
771
Profit/(loss) attributable to shareholders of the Group
221
(207)
982
Earnings per share (basic and diluted) for the Group
0.57p
(0.54p)
2.54p
Consolidated Statement of Comprehensive Income
6 months ended 30 June 2026
Unaudited
Unaudited
Audited
6 months
6 months
12 months
ended
ended
ended
30 June
30 June
31 December
2026
2025
2025
£’000
£’000
£’000
Profit/(loss) attributable to shareholders of the Group
221
(207)
982
Items that will not be reclassified to profit or loss
Remeasurement of the net defined benefit liability
446
(250)
942
Related deferred taxation
(205)
63
(389)
241
(187)
553
Items that will be reclassified subsequently to profit or loss when specific conditions are met
Revaluation of property
–
–
86
Related deferred taxation
–
–
(21)
–
–
65
Total other comprehensive income/(loss)
241
(187)
618
Total comprehensive income/(loss) attributable to shareholders of the Group
462
(394)
1,600
Consolidated Balance Sheet
as at 30 June 2026
Unaudited 30 June
2026
Unaudited 30 June
2025
Audited 31 December
2025
£’000
£’000
£’000
Non-current assets
Property, plant and equipment
13,561
10,659
12,733
Intangible assets
80
35
97
Right-of-use asset
1,562
1,663
1,593
Deferred tax asset
696
963
826
15,899
13,320
15,249
Current assets
Investment property held for resale
-
4,100
-
Inventories
6,616
6,651
5,465
Trade and other receivables
3,434
2,906
2,722
Cash and cash equivalents
739
1,839
2,012
10,789
15,496
10,199
Total assets
26,688
28,816
25,448
Current liabilities
Trade and other payables
(4,523)
(4,429)
(2,733)
Lease liabilities
(130)
(190)
(157)
Supply chain finance
(71)
(1,142)
-
Loans and borrowings
(230)
(413)
(323)
(4,954)
(6,174)
(3,213)
Non-current liabilities
Deferred tax
(2,167)
(2,540)
(2,010)
Pension deficit
(2,474)
(4,546)
(3,027)
Lease liabilities
(94)
(224)
(159)
Loans and borrowings
(59)
(290)
(175)
(4,794)
(7,600)
(5,371)
Total liabilities
(9,748)
(13,774)
(8,584)
Net assets
16,940
15,042
16,864
Equity
Called up share capital
10,339
10,339
10,339
Share premium account
504
504
504
Own shares
(932)
(991)
(932)
Share-based payment reserve
276
448
276
Capital redemption reserve
3,617
3,617
3,617
Revaluation reserve
1,860
3,448
1,860
Retained earnings
1,276
(2,323)
1,200
Total equity
16,940
15,042
16,864
Consolidated Cash Flow Statement
6 months ended 30 June 2026
Unaudited 6 months ended 30 June
2026
Unaudited 6 months ended
30 June
2025
Audited 12 months
ended 31 December
2025
£’000
£’000
£’000
Cash flow from operating activities
Profit/(loss) for the period
221
(207)
982
Depreciation
243
229
484
Depreciation of right-of-use assets
130
143
279
Amortisation
17
12
28
Share-based payment expense/(credit)
-
131
(41)
Net finance costs
281
327
705
Tax (credit)/charge
(17)
163
(771)
Profit on disposal of investment property
-
-
(50)
Operating cash flows before movements in working capital
875
798
1,616
Increase in inventory
(1,151)
(1,796)
(610)
(Increase)/Decrease in trade and other receivables
(712)
1,429
1,613
Increase/(Decrease) in trade and other payables
1,790
1,328
(377)
Cash generated from operations
802
1,759
2,242
Contributions to defined benefit pension scheme
(375)
-
(613)
Net cash generated from operating activities
427
1,759
1,629
Cash flows from investing activities
Payments to acquire intangible fixed assets
-
-
(79)
Payments to acquire tangible fixed assets
(1,062)
(2,542)
(4,785)
Receipt from sale investment property
-
-
4,150
Interest received
7
-
1
Net cash used in investing activities
(1,055)
(2,542)
(713)
Cash flows from financing activities
Interest paid on lease liabilities
(8)
(14)
(38)
Interest paid on borrowings
(12)
(21)
(93)
Interest paid on supply chain finance
-
(2)
-
Proceeds from supply chain finance
71
1,469
-
Principal paid on lease liabilities
(101)
(115)
(199)
Equity dividends paid
(386)
(231)
(231)
Repayment of supply chain finance
-
(327)
-
Repayment of loans
(209)
(200)
(406)
Net cash (used)/generated in financing activities
(645)
559
(967)
Net decrease in cash and cash equivalents
(1,273)
(224)
(51)
Cash and cash equivalents at start of the period
2,012
2,063
2,063
Cash and cash equivalents at end of the period
739
1,839
2,012
Consolidated Statement of Changes in Equity
6 months ended 30 June 2026
Share capital
Share premium account
Own Shares
Share-based
payment reserve
Capital redemption
reserve
Revaluation
Reserve
Retained earnings
Total equity
£’000
£’000
£’000
£’000
£’000
£’000
£’000
£’000
At 1 January 2025 10,339
504
(1,217)
317
3,617
3,448
(1,472)
15,536
Comprehensive income
for the year
Profit for the year –
–
–
–
–
–
982
982
Remeasurement of the net
defined benefit liability –
–
–
–
–
–
553
553
Revaluation of property –
–
–
–
–
86
(21)
65
Total comprehensive
income for the year –
–
–
–
–
86
1,514
1,600
Contributions by and distributions to owners
Dividend paid
– – –
– – – (231)
(231)
Share-based payment
– – –
(41) – – –
(41)
Own share transfer Revaluation reserve
Transfer
– – 285
– – –
– – – (285)
– – (1,674) 1,674
–
–
Total contributions by and distributions to owners
–
–
285
(41)
–
(1,674)
1,158
(272)
At 31 December 2025
and 1 January 2026 10,339
504
(932)
276
3,617
1,860
1,200
16,864
Comprehensive income for the period
Profit for the period –
Remeasurement of the net
defined benefit liability –
–
–
–
–
–
–
–
–
–
–
221
241
221
241
Total comprehensive
income for the period –
–
–
–
–
–
462
462
Contributions by and distributions to owners
Dividend paid –
–
–
–
–
–
(386)
(386)
Total contributions by and distributions to
owners –
–
–
–
–
–
(386)
(386)
At 30 June 2026 10,339
504
(932)
276
3,617
1,860
1,276
16,940
Notes to the Financial Statements
1. BASIS OF PREPARATION AND ACCOUNTING POLICIES
The financial information for the six months ended 30 June 2026 and the six months ended 30 June 2025 have not been audited and do not constitute full financial statements within the meaning of Section 434 of the Companies Act 2006.
The financial information relating to the year ended 31 December 2025 does not constitute full financial statements within the meaning of Section 434 of the Companies Act 2006. This information is based on the Group’s statutory accounts for that period. The statutory accounts were prepared in accordance with UK adopted International Accounting Standards and received an unqualified audit report and did not contain statements under Section 498(2) or (3) of the Companies Act 2006. These financial statements have been filed with the Registrar of Companies.
These interim financial statements have been prepared using the recognition and measurement principles of UK adopted International Accounting Standards. The accounting policies used are the same as those used in preparing the financial statements for the period ended 31 December 2025. These policies are set out in the annual report and accounts for the period ended 31 December 2025 which is available on the Company’s website at www.aireaplc.co.uk.
Further copies of this report are available from the Company Secretary at the registered office at Victoria Mills, The Green, Ossett, Wakefield, West Yorkshire WF5 0AN and are also available, along with this announcement, on the Company’s website at www.aireaplc.co.uk.
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