Mar 11 2026
Industrials
Recent Research
Grafton Group, Irish acquisition
Mar 10 2026
Meet your Industrials Research team
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...
Genuit Group
2025 result as expected but outlook subdued
Genuit’s results for 2025 look to be largely along expected lines, although adjusted operating profit was slightly better than anticipated. Not surprisingly, the tone of the group’s...
Persimmon plc
Sales rate and market conditions improve
Management noted supportive market conditions and a higher net private sales rate. As a result, it now expects underlying operating profit to be at the upper end of consensus...
Mincon Group
Strong FY25 results announced; FY26 upgrades likely
A FY25 operating profit result of €10.9m is c.9% ahead of our forecast, seeing the company almost double profits year-on-year. The business has started FY26 well and is expecting...
IMI plc
Good growth in FY2025 results; in line with expectations
IMI has reported positive FY2025 results with good organic revenue growth, especially in Process Automation. The 8% growth in adjusted EPS is in line with our forecasts. Guidance for...
Ibstock plc
Results close out a difficult year with near-term challenges set to continue
Ibstock will be glad to see the back of 2025. Two profit warnings dashed hopes that earnings would recover, and expectations for this year were also significantly downgraded....
Taylor Wimpey plc
Small downgrade to 2026 outlook
From the start of the year to the week ending March 1st, Taylor Wimpey’s net private sales rate declined slightly compared to the same period last year. Management has updated its...
