Annual Results for the Year Ended 31 December 2025
27/04/2026 07:00
RNS Number : 9208B
Braime Group PLC
27 April 2026
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.
BRAIME GROUP PLC
("Braime" or the "Company" and with its subsidiaries the "Group")
ANNUAL RESULTS FOR THE YEAR ENDED 31ST DECEMBER 2025
At a meeting of the directors held today, the accounts for the year ended 31st December 2025 were submitted and approved by the directors. The accounts statement is as follows:
Chairman's statement
High level results
I am pleased to announce Group revenue for 2025 of £50.9m and profit before tax of £4.1m. These results are discussed further in the Chief Executives' Business Review and the Group Strategic Report, however I am delighted with the results given the general sentiment about the economic climate at the start of the year.
Dividends
The Company paid an interim dividend of 6.0p in October 2025. Based on the results above, the directors propose paying a second interim dividend of 10.50p on the 22nd May 2026 to the holders of the Ordinary and "A" Ordinary Shares on the share register as at 8th May 2026. The ex-dividend date is 7th May 2026. This brings the total dividend paid in relation to the 2025 financial year to 16.50p, compared to 15.25p in 2024.
Overall strategy
Our strategy remains unchanged, it is based on constantly investing in improving our production processes, and above all focused on, expanding sales into new business sectors and potential new markets and in developing new innovative products to find solutions to resolve our customers' engineering challenges.
Events post period end: Acquisition of Don Electronics
On the 31st March 2026, we were delighted to be able to purchase our own suppliers, Don Electronics, together with our other principal partner in the field of electronics, Synatel, who themselves were purchased by the Donelec Group in 2014.
Don have been our longstanding partners for over 40 years, responsible for the creation and manufacture of our range of electronic products. Particularly in recent years, an increasing proportion of the sales made by the Braime Group globally has been generated by this very successful partnership. Meanwhile we have continued to invest further in new overseas subsidiaries, specifically to grow the width and sales volume of our global distribution. Full details of the acquisition are set out in the announcement dated 31st March 2026.
This acquisition fits our long-term strategy and we believe it will strengthen the Braime Group by securing this important source of supply, and by adding the margin made on the manufacturing of these products to the margin already made on the distribution and sales of our 4B electronic products.
It is our plan to use this acquisition to further increase our portfolio of products, both geographically and by market sector, continuing to develop products for use in hazardous environments and for predictive maintenance of critical equipment used in the conveying, storage and processing of bulk materials. We believe such products are integral to our OEM and end user customers in the agricultural and industrial sectors and the development, manufacture and supply of these products represents a significant opportunity for our business.
Staff
As always, our continuing success depends on the ongoing pro-active contribution of our staff at all levels in the organisation and we would like to thank them for their loyalty, hard work, and enthusiasm. I would especially like to extend a very warm welcome to all our employees at our new subsidiaries Don Electronics and Synatel.
Outlook
In recent years, it has been necessary to divert funds to invest in restoring and modernising the original Braime facility for UK manufacturing, distribution and Group headquarters in Leeds, originally built in 1911, in order to provide a secure and weathertight manufacturing and storage facility, as well as creating a more modern distribution centre from which we supply our growing number of overseas subsidiaries. Following the completion of our new main roof in December 2025, this nearly 10-year restoration program has largely been completed, so that going forward, we can focus more fully on the development of the operating businesses.
When I wrote my "Outlook" to my previous 2024 Chairman's statement, I was aware of the likely disruption and challenges such as the imposition of tariffs for entry of our products from the UK or direct from overseas suppliers into the USA, the largest Group market, which we were likely to face and this led the Outlook in the 2024 Statement, being particularly cautious. In the event, the Group was able to produce much better results in 2025 than I had feared.
Today the current global economic background is significantly worse than 12 months ago and we are likely to face both inflation in costs and a reduction in investment led global demand due to increased business uncertainty. Although the diversity of our sales and its global nature, would both normally be sources of strength, instead, the additional costs and the extended delivery times caused by the blockage of normal shipping routes, create further challenges.
However, in 2025, as a direct result of the release of new electronic products, we benefited from significant additional business in storage and food processing facilities globally. Given the planned release of further new products for sale to similar end users, we remain confident that sales to these customers will continue. In 2025, we also continued to extend our markets by the recent start-up of two further businesses in Canada and Indonesia, which will further increase our sales in the storage and processing industries in both the feed and grain sectors. The Group's niche electronic products are focused on providing end users with improved preventative maintenance for key processing equipment and also on increasing the safety of staff operating in hazardous areas. While sales of such products are obviously also made as a part of entirely new investments in new plant, many of our sales to "end user" facilities are retrofitted to existing equipment, and our sales are driven by the availability and proven solutions provided by the new additional safety features, and so continue even when the general economic background is depressed. We believe that growth of these innovative new products can be maintained, particularly as the development of these products is now directly under our control.
Nicholas Braime, Chairman
24th April 2026
For further information please contact:
Braime Group PLC
Nicholas Braime/Cielo Cartwright
0113 245 7491
Zeus Capital Limited
Katy Mitchell
0113 394 6628
Business review
Business overview
We are delighted that the Group achieved another record year reaching revenues of £50.9m and a profit from operations of £4.5m. The result maintains the Group's year on year sales growth since 2020 while the profits surpass that of 2022, which had benefited from a rebound in sales following Covid. The board is extremely pleased with the Group results given the challenging economic and geo-political environment, and the positive result maintains confidence that the investment decisions and long-term strategy are continuing to prove successful in growing the business.
The 4B division performed well with sales growth across our subsidiaries located in the UK, the USA, Europe, the Middle East, Australia and Africa. 4B Africa had a strong year with sales up over 15% on prior year and 4B Australia had an exceptional year recording record revenue. 4B USA continued its upwards trend in sales navigating its way through the uncertainty created by changing US tariffs.
Braime Pressings Limited also performed well increasing both external and intercompany sales and continuing to widen its product portfolio of deep drawn metal pressings, strengthening relationships with both long-term partners and new business secured in recent years.
New business product development
The 4B Group has extended its geographical footprint with the opening of 4B Canada in Calgary, Alberta to maximise the potential from the Canadian material handling market, while continuing to expand its international customer base through recently opened subsidiaries in the UAE and Indonesia. Sales have increased across the Group of our range of electronic sensors and monitoring systems, further building on new product launched over the last few years. In 2025, we completed the integration of some of these new products, with significant international roll-out of the IE-GuardFlex distributed monitoring system. This system has proved to be very versatile in its implementation in applications that were previously outside of the 4B solution capabilities; flour mill monitoring being one of these applications. Over the course of 2025 there have also been significant improvements to the usability and functionality of our Cloud based hazard monitoring solution HazardMon.com. We also enhanced many of the front and back-end features of this online monitoring system that provides end user facilities with live system status and historical data for hazard monitoring and predictive maintenance.
New capital investments
In 2025, the Group invested £3.1m in capital investments. £2.0m of this was the investment in the new roof stretching across the two central bays of our main manufacturing facility in Leeds which was completed on time and on budget in December 2025. This is a very significant investment but one that was necessary to ensure the safety of our employees and secure the long-term future of the UK business. The new roof also facilitated the regeneration of the two upper floors and the expansion of the site's solar panel system enabling the business to significantly increase the amount of solar energy generated on this site. Other investments included a new silo for receiving and storing plastic resin used by our plastic moulding facility to manufacture components including our range of CC-S elevator buckets, and a new press which will build the resilience of our cellular manufacturing lines of steel buckets and provide an additional resource for supporting new business development for Braime Pressings. The business also continued to invest in the operating facilities of our recently opened subsidiary in Indonesia.
Following the end of the period under review, we are also extremely excited by the acquisition of Don Electronics and its wholly owned subsidiary Synatel Instrumentation Limited which secures our key supply chain for electronics and provides the business with significant future opportunities in product development for our range of electronic sensors and monitoring solutions. We have worked with both companies for over 40 years, and their company ethos and family values fit naturally with those of the Braime Group. We believe the acquisition strengthens the Group and reaffirms 4B's position as the market leader in hazard monitoring solutions for dust hazardous environments and predictive maintenance.
In 2026, we intend to build on these investments, focus on continued product development and continue our strategy of expanding international markets. Recent events in the Middle East, the ongoing war in the Ukraine and the continued volatility of geo-politics create a difficult environment in which to do business but the Company has proven to be resilient and we remain optimistic that we can continue to deliver growth and development.
Group strategic report
The directors present their strategic report of Braime Group PLC (the "Company") and its subsidiaries (together the "Group") for the year ended 31st December 2025.
Principal activities
The principal activities of the Group during the year under review were the manufacture of deep drawn metal presswork and the manufacture and distribution of material handling components and monitoring equipment. These activities form the two segments of the Group. The presswork manufacturing activity is delivered through the Group's subsidiary Braime Pressings Limited and the materials handling activity through the Group's 4B division.
Braime Pressings specialises in metal presswork, including deep drawing, multi-stage progression and transfer presswork. Founded in 1888, the business has nearly 140 years of steel manufacturing experience. The metal presswork segment operates across several industries including the automotive and construction sectors and supplies external as well as group customers.
The subsidiaries within the 4B division are industry leaders in developing high quality, innovative and dependable material handling components for the agricultural and industrial sectors. They provide a range of complementary products including elevator buckets, elevator and conveyor belting, elevator bolts and belt fasteners, forged chain, level monitors and sensors and controllers for monitoring and providing preventative maintenance systems which facilitate handling and minimise the risk of explosion in hazardous areas. The 4B division has operations in the Americas, Europe, the Middle East, Asia, Australia and Africa and in 2025 traded in 102 countries. The US subsidiary also has an injection-moulding plant. In line with its strategy, the 4B division continues to expand its footprint geographically, and in September 2025 the Group established a new subsidiary in Alberta, Canada to tap into the opportunities of the large grain industry in the country.
Post year end, on 31st March 2026, the Group announced the acquisition of Don Electronics Limited and its wholly owned subsidiary Synatel Instrumentation Limited. Both businesses specialise in the design and manufacture of electronic monitoring equipment for hazardous environments and are key suppliers to the 4B division. Whilst the acquisition is not expected to result in a material increase in revenues in the short-term, it is anticipated to enhance the Group's profitability through captured margin. These businesses will also further strengthen and enhance the 4B division's capabilities to bring new designs to market, in line with its strategy for continually developing innovative end-user focused products. Details of the acquisition are set out in note 24 of the financial statements.
Performance highlights
For the year ended 31st December 2025, the Group generated revenues of £50.9m, up 4.1% from prior year revenues of £48.9m. Profit from operations was £4.5m, up £804,000 from prior year and EBITDA (Profit from operations, excluding depreciation and amortisation) was £5.9m, up £782,000 from prior year. Profit before tax was £4.1m, up £891,000 from prior year. At 31st December 2025, the Group had increased its net assets to £24.9m. The board is very pleased with the Group results particularly given concerns over the parlous state of the economy at the start of the year.
Cash flow
Inventories increased by £1.1m as the Group built up stock reserves in light of uncertainty caused by continual changes to tariff announcements by the US administration. Trade and other receivables increased by £394,000 but the resulting reduction in cash flow was offset by increases in trade and other payables of £308,000. In total, the business generated funds from operations of £3.2m (2024 - £2.6m). During the year, the Group spent £3.1m on property, plant and equipment with, £2.0m of this spend relating to the new roof at the Leeds head office, as previously announced. Other additions were for plant and machinery and replacement vehicles. After the payment of other financial costs and the dividend, the cash balance (net of overdraft) was £2.6m, an increase of £647,000 from the prior year.
Bank facilities
The Group's operating banking facilities are renewed annually. At the year end, the available headroom on its operating facilities was £3.0m. The business continues to enjoy good relations with its bankers, who have provided the £2.0m roof refurbishment loan announced last year and £5.2m loan facility for the recent acquisition announced on 31st March 2026.
Taxation
The tax charge for the year was £1.4m, with an effective rate of tax of 33.8% (2024 - 27.0%). The effective rate is higher than the averaged UK standard tax rate of 25.0% (2024 - 25.0%); this results from the blending effect of the different rates of tax applied by each of the countries in which the Group operates. In any financial year the effective rate will depend on the mix of countries in which profits are made, in particular, our US operations' tax charge affects the blended rate. The increase in effective rate this year is partly due to the impact of new provisions for intercompany profit-in-stock, against which no tax asset has been recognised, in line with the Group's deferred tax policy.
Capital expenditure
In 2025, the Group invested £3.1m (2024 - £1.4m) as noted above. In addition to the £2.0m investment in the Leeds roof refurbishment, other additions included replacement vehicles, a new storage silo and new presses, solar panels, and fixtures for the new Indonesian warehouse.
Balance sheet
Net assets of the Group have increased to £24.9m (2024 - £23.0m). During the year sterling strengthened considerably against the United States dollar and the large foreign exchange loss of £685,000 (2024 - £12,000 gain) recorded on the re-translation of the net assets of the overseas operations, is largely due to this.
Principal exchange rates
The Group reports its results in sterling, its presentational currency. The Group operates in a number of other currencies and the principal exchange rates in use during 2025 and the comparative figures for 2024 are shown in the table below.
| Currency | Symbol | Average rate Full year 2025 | Average rate Full year 2024 | Closing rate 31st Dec 2025 | Closing rate 31st Dec 2024 |
| Australian Dollar | AUD | 2.047 | 1.943 | 2.017 | 2.023 |
| Chinese Renminbi (Yuan) | CNY | 9.448 | 9.128 | 9.435 | 9.077 |
| Euro | EUR | 1.168 | 1.184 | 1.145 | 1.210 |
| Indonesian Rupiah | IDR | 21,862.870 | 20,332.610 | 22,665.775 | 20,332.610 |
| South African Rand | ZAR | 23.559 | 23.466 | 22.288 | 23.644 |
| Thai Baht | THB | 43.324 | 44.976 | 42.330 | 42.898 |
| United Arab Emirates Dirham | AED | 4.845 | 4.695 | 4.939 | 4.601 |
| United States Dollar | USD | 1.321 | 1.278 | 1.345 | 1.253 |
| Key performance indicator | Note | 2025 | 2024 |
| Revenue growth | 1 | 4.1% | 1.6% |
| Gross margin | 2 | 47.6% | 47.7% |
| Operating profit | 3 | £4.46m | £3.65m |
| Stock days | 4 | 212 days | 206 days |
| Debtor days | 5 | 51 days | 52 days |
| 2025 | 2024 | |
| £'000 | £'000 | |
| Revenue | 50,935 | 48,947 |
| Changes in inventories of finished goods and work in progress | 1,732 | 1,718 |
| Raw materials and consumables used | (28,440) | (27,292) |
| Employee benefits costs | (12,750) | (11,956) |
| Depreciation and amortisation expense | (1,452) | (1,474) |
| Other expenses | (5,674) | (6,388) |
| Other operating income | 105 | 97 |
| Profit from operations | 4,456 | 3,652 |
| Finance expense | (497) | (513) |
| Finance income | 130 | 59 |
| Profit before tax | 4,089 | 3,198 |
| Tax expense | (1,381) | (865) |
| Profit for the year | 2,708 | 2,333 |
| Profit attributable to: | ||
| Owners of the parent | 2,714 | 2,280 |
| Non-controlling interests | (6) | 53 |
| 2,708 | 2,333 | |
| Basic and diluted earnings per share | 188.50p | 158.37p |
| 2025 | 2024 | |
| £'000 | £'000 | |
| Profit for the year | 2,708 | 2,333 |
| Items that will not be reclassified subsequently to profit or loss | ||
| Net pension remeasurement gain on post-employment benefits | 87 | 6 |
| Items that may be reclassified subsequently to profit or loss | ||
| Foreign exchange (loss)/gain on re-translation of overseas operations | (685) | 12 |
| Other comprehensive (loss)/income for the year | (598) | 18 |
| Total comprehensive income for the year | 2,110 | 2,351 |
| Total comprehensive income attributable to: | ||
| Owners of the parent | 2,118 | 2,297 |
| Non-controlling interests | (8) | 54 |
| 2,110 | 2,351 |
| 2025 | 2024 | |
| £'000 | £'000 | |
| Assets | ||
| Non-current assets | ||
| Property, plant and equipment | 12,506 | 10,377 |
| Intangible assets | 196 | 342 |
| Right of use assets | 569 | 522 |
| Total non-current assets | 13,271 | 11,241 |
| Current assets | ||
| Inventories | 15,512 | 14,454 |
| Trade and other receivables | 8,188 | 7,950 |
| Cash and cash equivalents | 3,064 | 2,381 |
| Total current assets | 26,764 | 24,785 |
| Total assets | 40,035 | 36,026 |
| Liabilities | ||
| Current liabilities | ||
| Bank overdraft | 490 | 454 |
| Trade and other payables | 7,498 | 7,080 |
| Other financial liabilities | 4,455 | 2,693 |
| Corporation tax liability | 94 | 90 |
| Total current liabilities | 12,537 | 10,317 |
| Non-current liabilities | ||
| Financial liabilities | 2,271 | 2,610 |
| Deferred income tax liability | 347 | 99 |
| Total non-current liabilities | 2,618 | 2,709 |
| Total liabilities | 15,155 | 13,026 |
| Total net assets | 24,880 | 23,000 |
| Share capital | 360 | 360 |
| Capital reserve | 257 | 257 |
| Foreign exchange reserve | (472) | 238 |
| Retained earnings | 24,848 | 22,250 |
| Total equity attributable to the shareholders of the parent | 24,993 | 23,105 |
| Non-controlling interests | (113) | (105) |
| Total equity | 24,880 | 23,000 |
| 2025 | 2024 | |
| £'000 | £'000 | |
| Operating activities | ||
| Net profit | 2,708 | 2,333 |
| Adjustments for: | ||
| Depreciation and amortisation | 1,452 | 1,474 |
| Foreign exchange (losses)/gains | (755) | 118 |
| Finance income | (130) | (59) |
| Finance expense | 497 | 513 |
| Loss/(gain) on sale of land and buildings, plant, machinery and motor vehicles | 34 | (29) |
| Adjustment in respect of defined benefit scheme | 168 | 58 |
| Income tax expense | 1,381 | 865 |
| Income taxes paid | (973) | (769) |
| Total adjustments | 1,674 | 2,171 |
| Cash generated from operations before changes in working capital and provisions | 4,382 | 4,504 |
| (Increase)/decrease in trade and other receivables | (394) | 20 |
| Increase in inventories | (1,058) | (1,867) |
| Increase/(decrease) in trade and other payables | 308 | (20) |
| Net cash absorbed by working capital changes | (1,144) | (1,867) |
| Cash generated from operations | 3,238 | 2,637 |
| Investing activities | ||
| Purchases of property, plant, machinery and motor vehicles | (3,076) | (1,426) |
| Sale of land and buildings, plant, machinery and motor vehicles | 14 | 36 |
| Interest received | 49 | 7 |
| Net cash absorbed by investing activities | (3,013) | (1,383) |
| Financing activities | ||
| Proceeds from long term borrowings | 1,833 | - |
| Repayment of borrowings | (293) | (391) |
| Repayment of lease liabilities | (391) | (383) |
| Bank interest paid | (420) | (433) |
| Lease interest paid | (77) | (80) |
| Dividends paid | (230) | (212) |
| Net cash generated from/(absorbed by) financing activities | 422 | (1,499) |
| Increase/(decrease) in cash and cash equivalents | 647 | (245) |
| Cash and cash equivalents, beginning of period | 1,927 | 2,172 |
| Cash and cash equivalents, end of period | 2,574 | 1,927 |
| Share Capital | Capital Reserve | Foreign Exchange Reserve | Retained Earnings | Total | Non- Controlling Interests | Total Equity | |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | |
| Balance at 1st January 2024 | 360 | 257 | 221 | 20,182 | 21,020 | (181) | 20,839 |
| Comprehensive income | |||||||
| Profit | - | - | - | 2,280 | 2,280 | 53 | 2,333 |
| Other comprehensive income | |||||||
| Net pension remeasurement gain recognised directly in equity | - | - | - | 6 | 6 | - | 6 |
| Foreign exchange gains on re-translation of overseas subsidiaries' consolidated operations | - | - | 17 | (6) | 11 | 1 | 12 |
| Total other comprehensive income | - | - | 17 | - | 17 | 1 | 18 |
| Total comprehensive income | - | - | 17 | 2,280 | 2,297 | 54 | 2,351 |
| Transactions with owners | |||||||
| Share capital introduced by minority | - | - | - | - | - | 22 | 22 |
| Dividends | - | - | - | (212) | (212) | - | (212) |
| Total transactions with owners | - | - | - | (212) | (212) | 22 | (190) |
| Balance at 1st January 2025 | 360 | 257 | 238 | 22,250 | 23,105 | (105) | 23,000 |
| Comprehensive income | |||||||
| Profit | - | - | - | 2,714 | 2,714 | (6) | 2,708 |
| Other comprehensive income | |||||||
| Net pension remeasurement gain recognised directly in equity | - | - | - | 87 | 87 | - | 87 |
| Foreign exchange losses on re-translation of overseas subsidiaries' consolidated operations | - | - | (710) | 27 | (683) | (2) | (685) |
| Total other comprehensive income | - | - | (710) | 114 | (596) | (2) | (598) |
| Total comprehensive income | - | - | (710) | 2,828 | 2,118 | (8) | 2,110 |
| Transactions with owners | |||||||
| Dividends | - | - | - | (230) | (230) | - | (230) |
| Total transactions with owners | - | - | - | (230) | (230) | - | (230) |
| Balance at 31st December 2025 | 360 | 257 | (472) | 24,848 | 24,993 | (113) | 24,880 |
| Dividends paid | 2025 | 2024 |
| £'000 | £'000 | |
| Equity shares | ||
| Ordinary shares | ||
| Interim of 10.00p (2024 - 9.50p) per share paid on 23rd May 2025 | 48 | 46 |
| Interim of 6.00p (2024 - 5.25p) per share paid on 17th October 2025 | 29 | 25 |
| 77 | 71 | |
| 'A' Ordinary shares | ||
| Interim of 10.00p (2024 - 9.50p) per share paid on 23rd May 2025 | 96 | 91 |
| Interim of 6.00p (2024 - 5.25p) per share paid on 17th October 2025 | 58 | 50 |
| 154 | 141 | |
| Total dividends paid | 231 | 212 |
| Central | Presswork Manufacturing | 4B | Total | |
| 2025 | 2025 | 2025 | 2025 | |
| £'000 | £'000 | £'000 | £'000 | |
| Revenue | ||||
| External | - | 5,754 | 45,181 | 50,935 |
| Inter Company | 2,550 | 4,780 | 8,550 | 15,880 |
| Total | 2,550 | 10,534 | 53,731 | 66,815 |
| Profit | ||||
| EBITDA* | 1,250 | 588 | 4,070 | 5,908 |
| Finance costs | (275) | (104) | (118) | (497) |
| Finance income | - | 81 | 49 | 130 |
| Depreciation and amortisation | (619) | (42) | (791) | (1,452) |
| Tax expense | (281) | (29) | (1,071) | (1,381) |
| Profit for the period | 75 | 494 | 2,139 | 2,708 |
| Assets | ||||
| Total assets | 10,224 | 8,066 | 21,745 | 40,035 |
| Additions to non-current assets | 2,704 | 107 | 644 | 3,455 |
| Liabilities | ||||
| Total liabilities | 3,827 | 2,981 | 8,347 | 15,155 |
| Central | Presswork Manufacturing | 4B | Total | |
| 2024 | 2024 | 2024 | 2024 | |
| £'000 | £'000 | £'000 | £'000 | |
| Revenue | ||||
| External | - | 5,227 | 43,720 | 48,947 |
| Inter Company | 2,681 | 4,640 | 8,489 | 15,810 |
| Total | 2,681 | 9,867 | 52,209 | 64,757 |
| Profit | ||||
| EBITDA | 346 | 702 | 4,078 | 5,126 |
| Finance costs | (291) | (92) | (130) | (513) |
| Finance income | - | 52 | 7 | 59 |
| Depreciation and amortisation | (670) | (31) | (773) | (1,474) |
| Tax expense | (1) | - | (864) | (865) |
| (Loss)/profit for the period | (616) | 631 | 2,318 | 2,333 |
| Assets | ||||
| Total assets | 8,035 | 10,993 | 16,998 | 36,026 |
| Additions to non-current assets | 1,018 | 43 | 478 | 1,539 |
| Liabilities | ||||
| Total liabilities | 1,860 | 2,729 | 8,437 | 13,026 |