REG - Metir PLC - Interim Trading Update

MetirAnnouncement

Thu 07:01

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250731:nRSe2658Ta&default-theme=true

RNS Number : 2658T  Metir PLC  31 July 2025

 

31 July 2025

 

Metir plc

 

("Metir" or the "Company")

 

Interim Trading Update

 

Metir plc (AIM: MET), the leading global provider of mobile and point-of-use
water and environmental testing technology, is pleased to provide a trading
update ahead of its interim results for the six months ending 30 June 2025
(the "Period"), which will be published in September 2025.

 

Following a year of strategic reset in 2024, in line with the Company's
announcement on 29 May 2025, trading in the first half of 2025 was
significantly ahead of recent prior periods. The Group's revenue for the
Period was £931,000 (30 June 2024: £255,000)(1). The Group's cash balance at
the Period-end was £586,000, a materially improved position as a result of
the successful fundraise that closed on 10 June 2025 ("Fundraise").

 

This strong revenue performance was driven by increased demand for MicroTox®
LX instruments, which in turn supported a growing volume of reagent sales,
representing £155,000 during the Period. In addition, revenue of £386,000
from the Group's Qatar project and the deployment of 27 Continuous Toxicity
Monitors (CTMs) is being recognised in 2025. The Qatar project is due for
completion by the end of the third quarter following the successful
integration of upgraded software to record CTM data from the fully installed
units. This project's completion marks a major milestone for the Group and
establishes a strategic foothold in the Middle East.

 

The Group's operational and financial transformation, which began in 2024, is
now delivering clear results in 2025. The successful rebranding to Metir plc
in February 2025, alongside strengthened leadership and enhanced governance,
has improved the Group's positioning to scale up production, accelerate
commercialisation of new products and pursue international growth
opportunities, including major toxic water testing projects. The Group raised
net proceeds of £703,000 through the Fundraise, with an additional Director's
contribution of £70,000 in July 2025, to support this momentum.

 

In June 2025, the Group launched its Sulphate Reducing Bacteria (SRB) kits,
adding a new revenue stream to be recognised in the second half of 2025. The
Group is focused on near-term revenue generation, expanding MicroTox® LX
distribution, starting production of MicroTox® FX portable units and
increasing associated reagent sales.

 

In parallel, commercial testing of a real-time Pathogen Detector in
partnership with Aptamer Group plc is underway. The Group is also advancing
its proprietary mobile PFAS testing technology in collaboration with Swansea
University and a US technology partner, aiming to complete optimisation and
establish Metir as the global leader in mobile PFAS detection solutions.

 

Bob Moore, Executive Chairman and Chief Executive Officer, Metir plc,
commented:

 

"The Board is encouraged by the strong sales performance achieved in the first
half of 2025 and remains firmly focused on scaling revenue, enhancing gross
margins and progressing towards sustainable cash generation.

 

"Metir is investing prudently in infrastructure and increasing sales and
marketing activity to drive future growth. The Group remains committed to
increasing our market share and expanding our global footprint across the
growing environmental and water testing sectors. This includes pursuing major
toxic water testing opportunities, similar to the CTM deployment in Qatar, and
commercialising our latest innovations.

 

"We look forward to updating investors on our continued progress in the months
ahead."

 

(1) The unaudited revenue for the period ended 30 June 2024 of £255,000
included income of £143,795 relating to the Qatar project, which was expected
to be recognised in 2024; however in the financial results for the year ended
31 December 2024 as published on 10 July 2025, this was amended and removed
due to outstanding project completion matters and payment delays in 2024, all
of which were only recognised to be received in 2025.

 

-      Ends -

 

 Metir plc                                                      +44 (0) 20 3657 0050

 Bob Moore, Executive Chairman and Chief Executive Officer       via Turner Pope

 Singer Capital Markets (Nominated Adviser & Joint Broker)      +44 (0) 20 7496 3000

 Alex Bond / Oliver Platts

 Turner Pope Investments (TPI) Limited (Joint Broker)           +44 (0) 20 3657 0050

 Andy Thacker / James Pope

 Northstar Communications (Investor Relations)                  +44 (0) 113 730 3896

 Sarah Hollins

 

About Metir

Metir plc is a leading global provider of mobile and point-of-use water and
environmental testing technology. Through its two established divisions,
Modern Water and Microsaic Systems, the Company develops and supplies
innovative, easy-to-use solutions that deliver rapid, accurate water quality
results, helping industries, utilities and regulators monitor safety and
compliance in real time.

With a strong focus on data-driven insight and field-ready design, Metir's
technology supports critical decision-making across sectors, including
environmental monitoring, public health and industrial process management.

Headquartered in York, UK, Metir serves worldwide customers and is dedicated
to advancing water testing standards through innovative, accessible solutions.

For more information, please visit  https://www.metirplc.com
(https://www.metirplc.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTURANRVAUBOAR