REG - Metir PLC - Trading Statement

MetirAnnouncement

13/01/2026 07:00

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RNS Number : 6056O  Metir PLC  13 January 2026

 
13 January 2026

 

Metir plc

 

("Metir", the "Group" or the "Company")

 

Trading Update

 

Metir plc (AIM: MET), the leading global provider of fast-response, mobile
and point-of-use water and environmental monitoring technologies, is pleased
to provide a trading update for the financial year ended 31 December 2025
("FY25"). The Group's Annual Report and Accounts are expected to be published
in May 2026.

 

Trading in FY25 was in line with management expectations, with growth driven
by increased international demand for Microtox® LX instruments, Microtox®
reagents and Sulphate Reducing Bacteria ("SRB") kits, alongside continued
progress in large-scale potable water monitoring projects with the Continuous
Toxic Monitoring ("CTM") installation in Qatar. The Group expects to report
revenues of £1.5m (31 December 2024: £0.23m) and a cash balance at the
year-end of £1.04m following the successful fundraise of £1.0m, before
expenses, completed on 22 December 2025.

 

The Group has continued to build on the momentum reported in its interim
results announced on 30 September 2025 and the trading update released on 2
December 2025. Customer demand for Microtox® LX instruments remained strong
throughout the second half of the year. Although outsourced manufacturing
output increased during H2 2025, production capacity was limited during Q4
2025, constraining the pace at which customer demand could be converted into
revenue. Due to these restrictions, 10 of the 56 Microtox® LX instruments
ordered in FY25 could not be fulfilled; however, they are now being
manufactured and will be delivered in early 2026. Increasing the outsourced
manufacturing capacity of Microtox® FX instruments is a key near-term
objective in 2026 following increased sales interest.

 

The growing installed base of Microtox® LX and FX instruments is expected to
drive demand for high-margin Microtox® reagents. The Board believes that
unlocking this high-margin recurring revenue stream is a significant financial
objective for the business, with a focus on not only increasing manufacturing
capacity, but also working with customers to drive greater reagent usage.

 

Demand for SRB kits, which were relaunched in June 2025, remained robust.
Customer interest increased materially, with quotations provided to more than
60 companies worldwide. During Q4 2025, production of SRB kits was temporarily
paused due to a manufacturing quality control assessment. The objective is to
restart production as soon as practicable, possibly using an alternative
biological component to ensure Modern Water's QuickChek™ SRB kit remains the
market-leading fast response product.

 

Throughout FY25, the Board continued to prioritise investment in scaling-up
manufacturing, product development and commercial capability, consistent with
the Group's strategy to build a growing recurring-revenue business for its
current product range. In addition, Metir is developing what it believes could
be significant future revenue streams from new technologies, including its
proprietary mobile PFAS testing technology with Swansea University, and
progressing towards completion of the Cryptosporidium project in 2026 with
Aptamer Group plc for deployment of a commercial real-time continuous Pathogen
Detector.

 

The Group completed a fundraising in December 2025 to strengthen working
capital, accelerate manufacturing output and therefore support the conversion
of a growing order book into revenue. The Board believes this additional
funding materially improves the Group's ability to execute its near-term
growth plans and to increase margins on its products.

 

Metir has growing revenues from multiple and diverse Modern Water product
streams. Ongoing development of the Group's unique mobile PFAS detection and
Pathogen Detection technologies will increase the product portfolio further.

 

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

 

"FY25 marked a year of strong commercial progress for Metir, with customer
demand continuing to grow across Modern Water's instrument, reagent and
testing kit portfolio. While manufacturing capacity constrained the Group's
ability to fully meet demand during the year, the underlying momentum in the
business is encouraging for sales growth throughout 2026.

 

"With enhanced funding in place, a growing installed base of instruments and
an expanding international pipeline, we enter this year with increased
confidence. The Board believes the actions taken during FY25, including
further product development, provide a solid foundation for accelerating
production of the Group's instrumentation and reagents, driving revenue growth
and progressing towards sustainable profitability.

 

"We look forward to reporting progress on the Group's growth initiatives over
the coming months."

 

-      Ends -

 

Enquiries:

 

 Metir plc                                                   +44 (0) 20 3657 0050

 Bob Moore, Executive Chairman and Chief Executive Officer   via TPI

 Singer Capital Markets                                      +44 (0)20 7496 3000

(Nominated Adviser & Joint Broker)

 Alex Bond

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

(Joint Broker)

 Andrew Thacker / Guy McDougall

 

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

 Sarah Hollins

 

About Metir

 

Metir plc is a leading global provider of several fast-response, mobile and
point-of-use water and environmental monitoring technologies. Through its two
established trading divisions, Modern Water and Microsaic Systems, a
specialist in mobile PFAS monitoring, the Company develops and supplies
innovative, easy-to-use solutions that deliver rapid, accurate water and
liquids 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)

 

 

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