Andrews Sykes H1 revenue rises 7.7% to record high despite UAE hit
Andrews Sykes H1 revenue rises 7.7% to record high despite UAE hit
Overview
UK climate control equipment hire firm's H1 revenue rose 7.7% yr/yr to record level
Net profit for H1 was broadly flat; basic EPS edged down 1% yr/yr
Company maintained interim dividend at 11.9p per share
Outlook
Company expects full-year trading performance to be materially ahead of 2025
Continued high demand for comfort cooling in UK and Europe boosted second-half trading
Middle East trading remains subdued, with profitability below prior year and initial expectations
Result Drivers
HOT WEATHER DEMAND - Record temperatures in the UK and Northern Europe led to significantly increased demand for comfort cooling equipment, boosting air conditioning revenues
MIDDLE EAST WEAKNESS - Geopolitical events in the UAE caused a 28.8% drop in revenue and a £1.0 mln bad debt impact, reducing operating profit in the region
ONE-OFF ITALY REVENUE - Italian business revenue rose 14.5%, helped by one-off revenues linked to the Winter Olympics
Company press release: ID:nRSW8682Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 40.90 mln |
|
H1 Net Income |
| GBP 7.40 mln |
|
H1 EBIT |
| GBP 10.30 mln |
|
H1 Pretax Profit |
| GBP 10.30 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)