REG - Braime Group PLC - Annual Results for the Year Ended 31 December 2025
27/04/2026 07:00
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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
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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.
Average rate Average rate Closing rate Closing rate
Currency Symbol Full year 2025 Full year 2024 31st Dec 2025 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
Our business model
The two segments of the Group are very different operations and serve
different markets, however together they provide diversification, strength and
balance to the Group and their activities.
The focus of the presswork manufacturing business is to produce quality,
technically demanding steel components. The use of automated equipment allows
us to produce in high volumes whilst maintaining flexibility to respond to
customer demands.
The material handling components business operates from a number of locations
around the globe allowing us to be close to our core markets. The focus of
the business is to provide innovative solutions drawing on our expertise in
material handling and access to a broad product range and the new acquisition
will strengthen this capability. We continually assess new locations in
response to rising demand and market trends.
Performance of Braime Pressings Limited, manufacturer of deep drawn metal
presswork
Braime Pressings Limited sales of £10.5m were up £667,000 on prior year.
External sales and intercompany sales were £5.8m and £4.7m as compared to
£5.2m and £4.6m respectively in 2024. External profit for the period was
£494,000 (2024 - £631,000). The board believes the business continues to
add strategic value through its supply to the 4B division and complementary
engineering expertise.
Performance of the 4B division, world-wide supplier of components and
monitoring systems for the material handling industry
Revenues increased from £52.2m to £53.7m, with external sales up £1.5m to
£45.2m. Profit for the period decreased by £179,000 to £2.1m. Our
operations in the UK, Europe and the Middle East, the Americas and Africa all
saw increases in revenues. In particular strong growth was seen in our
African market, with sales up 15.7% and the European market enjoyed a recovery
in 2025 with sales up 6.9% from prior year. However, our Asian market was
difficult in 2025 and, consequently despite record sales in Australia, the
Australasia sector sales were down by 1.8% compared to the growth of 14.0%
enjoyed in 2024.
Key performance indicators
The Group uses the following key performance indicators to assess the
performance of the Group as a whole and of the individual businesses:
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
Notes to KPI's
1. Revenue growth
The Group aims to increase shareholder value by measuring the year-on-year
growth in Group revenue. The board is pleased with growth achieved in 2025
given the uncertainties facing the global economy.
2. Gross margin
Gross profit (revenue plus change in inventories less raw materials used) as a
percentage of revenue is monitored to maximise profits available for
reinvestment and distribution to shareholders. The board is pleased that
margins have remained strong during the year.
3. Operating profit
Sustainable growth in operating profit is a strategic priority to enable
ongoing investment and increase shareholder value. Operating profit has
benefited from the late receipt of a government grant, as well as controlled
prudent spending given management's concerns over the economy.
4. Stock days
The value of period end inventories divided by raw materials and consumables
used and changes in inventories of finished goods and work in progress
expressed as a number of days is monitored to ensure the right level of stocks
are held in order to meet customer demands whilst not carrying excessive
amounts which impacts upon working capital requirements. Stock days have
increased due to further inventory build-up in December 2025, given the global
nature of the Group's trading and the uncertainties its businesses face in the
light of changing tariffs by the US administration and potential retaliations
by other countries.
5. Debtor days
The value of period end trade receivables divided by revenue expressed as a
number of days. This is an important indicator of working capital
requirements. Debtor days remain broadly in line with prior year.
Management are focused on cash collections.
Other metrics monitored weekly or monthly include quality measures (such as
customer complaints), raw material buying prices, capital expenditure, line
utilisation, reportable accidents and near-misses.
Principal risks and uncertainties
The geo-political landscape is in constant flux and remains a source of risk
and uncertainty. However, the Group's short reporting lines of management
means it can remain nimble footed to sudden and/or large changes in the
business landscape and our global operations gives us diversity and protection
from extreme fluctuations.
General risks
The market remains challenging for our manufacturing division, due to
increased labour costs and pricing pressures throughout the supply chain as
well as competition from the Far East. The maintenance of the TS16949
quality standard is important to the Group and allows it to access growing
markets within the automotive and other sectors. A process of continual
improvement in systems and processes reduces this risk as well as providing
increased flexibility to allow the business to respond to customer
requirements.
The acquisition of the Group's principal manufacturer of electronic components
brings the supply of this important product under the Group's control. At
the same time the board is cognizant of integration risks and challenges that
an acquisition brings. These are partly mitigated by the long-standing
relationship between the parties and the contingent element of the
consideration for the acquisition.
Our 4B division maintains its competitive edge in a price-sensitive market
through the provision of engineering expertise and by working closely with our
suppliers to design and supply innovative components of the highest
standard. In addition, ranges of complementary products are sold into
different industries. Continual feedback from our customers regarding
product performance drive our new product designs. The monitoring systems are
developed and improved on a regular basis.
The directors receive monthly reports on key customer and operational metrics
from subsidiary management and review these. The potential impact of
business risks and actions necessary to mitigate the risks, are also discussed
and considered at the monthly board meetings. The directors have put in
place formal business continuity and disaster recovery plans with respect to
its UK and overseas operations. During the year as part of the Group's
strategic planning process, each subsidiary set out the key risks specifically
facing the business and these are evaluated further to develop the group risk
register. The more significant risks and uncertainties faced by the Group
are set out below:-
· Raw material price fluctuation:- The Group
is exposed to fluctuations in steel and other raw material prices and to
mitigate this volatility, the Group fixes its prices with suppliers where
possible.
· Energy price fluctuation:- The
manufacturing division is energy intensive. It uses forward contracts to
mitigate volatility and is continually evaluating its processes to reduce
energy consumption and generate energy.
· Reputational risk:- As the Group operates
in relatively small markets any damage to, or loss of reputation could be a
major concern. Rigorous management attention and quality control procedures
are in place to maximise right first time and on time delivery.
Responsibility is taken for ensuring swift remedial action on any issues and
complaints.
· Damage to warehouse or factory:- Any
significant damage to a factory or warehouse will cause short-term
disruption. To mitigate these risks, the Group has arrangements with key
suppliers to step up supply in the event of a disruption.
· Economic fluctuations:- The Group derives
a significant proportion of its profits from outside the UK and is therefore
sensitive to fluctuations in the economic conditions of overseas operations
including foreign currency fluctuations. As the Covid-19 pandemic
demonstrated, economies are greatly intertwined and reverberations feed
through the supply chain. The recent imposition of tariffs by the US is
likely to disrupt established trading patterns.
· Cyber security:- All businesses now rely
almost totally on computers, networks and systems with 'data' information held
on them, and require privacy and integrity of this data. The likelihood of
cyber security attacks and security threats are key risks for every
organisation. The board reviews its security measures regularly with its IT
providers and has commissioned a cyber security review across all its
operations and implemented measures such as multi factor authentication to
reduce vulnerability. The Group has taken out cyber insurance.
Financial instruments
The operations expose the Group to a variety of financial risks including the
effect of changes in interest rates on debt, foreign exchange rates, credit
risk and liquidity risk.
The Group's exposure to the areas identified above are discussed in note 17 of
the financial statements.
The Group's principal financial instruments comprise sterling and foreign cash
and bank deposits, bank loans and overdrafts, other loans and obligations
under finance leases together with trade debtors and trade creditors that
arise directly from operations. The main risks arising from the Group's
financial instruments can be analysed as follows:
Price risk
The Group has no direct exposure to securities price risk, as it holds no
listed equity instruments. The Group maintains a defined benefit scheme, the
asset valuations are subject to market changes (note 19).
Foreign currency risk
The Group operates a centralised treasury function which manages the Group's
banking facilities and all lines of funding. Forward contracts are on
occasions used to hedge against foreign exchange differences arising on cash
flows in currencies that differ from the operational entity's reporting
currency.
Credit risk
The Group's principal financial assets are bank balances, cash and trade
receivables, which represent the Group's maximum exposure to credit risk in
relation to financial assets.
The Group's credit risk is primarily attributable to its trade receivables.
Credit risk is mitigated by a stringent management of customer credit limits
by monitoring the aggregate amount and duration of exposure to any one
customer depending upon their credit rating. The Group also has credit
insurance in place. The amounts presented in the balance sheet are net of
allowance for doubtful debts, estimated by the Group's management based on
prior experience and their assessment of the current economic environment.
The credit risk on liquid funds is limited because the counterparties are
banks with high credit-ratings assigned by international credit-rating
agencies. The Group has no significant concentration of credit risk, with
exposure spread over a large number of counterparties and customers.
Liquidity risk
The Group's policy has been to ensure continuity of funding through acquiring
an element of the Group's fixed assets under medium term loans and finance
leases and arranging funding for operations via bank overdrafts to aid short
term flexibility.
Cash flow interest rate risk
Interest rate bearing assets comprise cash and bank deposits, all of which
earn interest at a fixed rate. The interest rate on the bank overdraft is at
market rate and the Group's policy is to keep the overdraft within defined
limits, such that the risk that could arise from a significant change in
interest rates would not have a material impact on cash flows. The Group's
policy is to maintain other borrowings at fixed rates to fix the amount of
future interest cash flows.
The directors monitor the level of borrowings and interest costs to limit any
adverse effects on the financial performance of the Group.
Research and development
The Group continues to invest in research and development and from time to
time liaises with university engineering groups with a view to improving
features of its products. This has resulted in innovations in the products
which will benefit the Group in the medium to long term.
Duties to promote the success of the Company
Section 172 of the Companies Act 2006 requires the directors to act in a way
that they consider, in good faith, would be most likely to promote the success
of the Company for the benefit of its members as a whole, and in doing so have
regard (amongst other matters) to:
- the most likely consequences of any decision in the long term;
- the interest of the Company's employees;
- the need to foster the Company's business relationships with
suppliers, customers and others;
- the impact of the Company's operations on the community and
the environment;
- the desirability of the Company maintaining a reputation for
high standards of business conduct; and
- the need to act fairly between the members of the Company.
The board confirms that, during the year, it has had regard to the matters set
out above. Further details as to how the directors have fulfilled their
duties are set out below and in the Governance Report which in particular,
expands on directors' duties and stakeholder liaison.
Corporate social responsibility
Business ethics and human rights
The board is respectful of the Company's long history, and considers the
long-lasting impact of its decisions. We are committed to conducting our
business ethically and responsibly, and treating employees, customers,
suppliers and shareholders in a fair, open and honest manner. As a business,
we receive audits by both our independent auditor and by our customers and we
look to source from suppliers who share our values. We encourage our
employees to provide feedback on any issues they are concerned about and have
a whistle-blowing policy that gives our employees the chance to report
anything they believe is not meeting our required standards.
The Group is similarly committed to conducting our business in a way that is
consistent with universal values on human rights and complying with the Human
Rights Act 1998. The Group gives appropriate consideration to human rights
issues in our approach to supply chain management, overseas employment
policies and practices. Where appropriate, we support community
partnering.
Health and safety
We maintain healthy and safe working conditions on our sites and measure our
ability to keep employees and visitors safe. We continuously aim to improve
our working environments to ensure we are able to provide safe occupational
health and safety standards to our employees and visitors. The directors
receive monthly H&S reports and we carry out regular risk management
audits to identify areas for improvement and to minimise safety risks. As a
global business, the Group is able to tap into the experience of its various
international locations to share best practice and learning points. The
experience of Covid-19 has improved our plans and procedures in the event of
future pandemics.
Employees
The quality and commitment of our people has played a major role in our
business success. This has been demonstrated in many ways, including
improvements in customer satisfaction, the development of our product lines
and the flexibility they have shown in adapting to changing business
requirements. Employee performance is aligned to the achievement of goals
set within each subsidiary and is rewarded accordingly. Employees are
encouraged to use their skills to best effect and are offered training either
externally or internally to achieve this. As a global business, the Group
fully recognises and seeks to harness the benefits of diversity within its
work force.
Environment
The Group's policy with regard to the environment is to understand and
effectively manage the actual and potential environmental impact of our
activities. Operations are conducted such that we comply with all legal
requirements relating to the environment in all areas where we carry out our
business and is currently looking at the new reporting requirements that may
fall due in the future. The Group continuously looks for ways to harness
energy reduction (electricity and gas) and water. During the year the
Company installed a third solar PV system on the newly refurbished roof of its
headquarters in Leeds, taking the total energy generation at its UK premises
to 437kWp. During the period of this report the Group has not incurred any
fines or penalties or been investigated for any breach of environmental
regulations. The board is cognizant that climate change will change the
business landscape for the future and is working to understand its
wide-ranging impact on the Group's activities and operations.
Social and community matters
We recognise our responsibility to work in partnership with the communities in
which we operate and we encourage active employee support for their community
in particular, in aid of technical awareness and training. We regularly
participate in a number of education events encouraging interest in
engineering in young people. It is our policy not to provide political
donations.
Consolidated income statement for the year ended 31st December 2025 (audited)
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
Consolidated statement of comprehensive income for the year ended 31st
December 2025 (audited)
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
Consolidated balance sheet at 31st December 2025 (audited)
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
Consolidated cash flow statement for the year ended 31st December 2025
(audited)
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 4,382 4,504
provisions
(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
Consolidated statement of changes in equity for the year ended 31st December
2025 (audited)
Foreign Non-
Share Capital Exchange Retained Controlling Total
Capital Reserve Reserve Earnings Total Interests 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
1. EARNINGS PER SHARE AND DIVIDENDS
Both the basic and diluted earnings per share have been calculated using the
net results attributable to shareholders of Braime Group PLC as the numerator.
The weighted average number of outstanding shares used for basic earnings per
share amounted to 1,440,000 shares (2024 - 1,440,000). There are no
potentially dilutive shares in issue.
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
An interim dividend of 10.50p per Ordinary and 'A' Ordinary share will be paid
on 22nd May 2026.
2. SEGMENTAL INFORMATION
Presswork
Central 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
Presswork
Central 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
3. BASIS OF PREPARATION
The consolidated financial statements have been prepared in accordance with
International Financial Reporting Standards as adopted by the UK (IFRSs as
adopted by the UK), IFRIC interpretations and the Companies Act 2006
applicable to companies reporting under IFRS. The consolidated financial
statements have been prepared under the historical cost convention. The
accounting policies adopted are consistent with those of the annual financial
statements for the year ended 31st December 2025 as described in those
financial statements.
4. ANNUAL GENERAL MEETING
The Annual General Meeting of the members of the company will be held at the
registered office of the company at Hunslet Road, Leeds, LS10 1JZ on Thursday
18th June 2026 at 11.45am. The annual report and financial statements will
be sent to shareholders by 16th May 2026 and will also be available on the
company's website (www.braimegroup.com (http://www.braimegroup.com) ) from
that date.
Any changes to the format of the AGM will be communicated to shareholders
through the Company's website and, where appropriate, by stock exchange
announcement.
5. THE ANNOUNCEMENT
The financial information set out in this announcement does not constitute
statutory accounts as defined by section 434 of the Company Act 2006. The
financial information for the year ended 31st December 2025 has been extracted
from the Group's financial statements upon which the auditor's opinion is
unqualified, does not include reference to any matters to which they wish to
draw attention by way of emphasis without qualifying their report, and does
not include any statement under section 498 of the Companies Act 2006.
Statutory accounts for the year ended 31st December 2024 have been delivered
to the Registrar of Companies, and those for 2025 will be delivered in due
course.
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. END FR BDGDSLBDDGLU
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