Mar 13 2026
Industrials
Recent Research
Stelrad Group plc, Delivers once again
Mar 13 2026
Volution, Continues to power ahead
Mar 12 2026
Hill & Smith, Strong FY2025 results
Mar 11 2026
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Berkeley Group
Reaffirmed FY 2026 guidance
Management reaffirmed its FY 2026 guidance while noting that the trading environment over the period (November 2025 – February 2026) remained constrained by consumer confidence.
Stelrad Group plc
Delivers once again
Stelrad has announced impressive results for 2025 with growth delivered in underlying operating profits despite further market-led volume weakness. The results are consistent with...
Glenveagh Properties
€1.3bn order book gives comfort on a reiterated FY26 guidance
Headlines for 2025 were already known, but Glenveagh’s results demonstrate a business which is well placed for the long term, with a well-positioned and attractive landbank, and a...
Volution
Continues to power ahead
The Volution machine powers on with the group reporting adjusted operating profit growth of 22% for the six months to end-January. The group’s consistent outperformance can be...
Mincon Group
Material upgrades follow FY25 results; target price moving to 82c
2025 was a successful year of growth and self-help initiatives at Mincon. The business has maintained momentum into FY26 and we are increasing our forecasts to reflect higher sales...
CRH
Another strong year of growth ahead; significant upside from 2030 targets
Following another strong year of delivery in 2025 and a robust set of FY26 guidance figures, we increase our CRH price target (PT) to $144 with a high level of confidence in our new,...
Hill & Smith
Strong FY2025 results
Hill & Smith had a strong year with above forecast EPS growth of 8%. The US Engineered Solutions division continues to be the key driver. The company announced two bolt-on acquisitions...
Breedon Group
FY25 results in line; outlook mixed
Breedon’s FY25 results reflect a more challenging year, with softer volumes and project delays the key headwinds. Fullyear EBITDA came in slightly ahead of expectations, with the...
Forterra plc
Share buyback announced but downside to 2026 estimates
Forterra performed well in 2025, achieving a decent uplift in earnings and making good inroads in debt reduction. Progress in the latter has prompted the initiation of a £20m share...
Grafton Group
Irish acquisition
Grafton has announced the acquisition of Cygnum, an Irish offsite timber frame manufacturer. The business brings focused exposure to the need for a significant increase in housing in...
