Accsys Technologies shares slide as weak US triggers profit warning

Accsys Technologies PLC on Monday warned full-year earnings will fall short of market expectations after a slower than expected start to the financial year.

In response, shares in the London-based wood building products manufacturer sank 12% to 62.81 pence each in London on Monday.

Accsys now expects full-year adjusted earnings before interest, tax, amortisation and depreciation of EUR21 million to EUR23 million compared to analyst expectations of EUR28.8 million and EUR21.2 million in the 12 months ended March 31, 2026.

Driven by challenging macroeconomic conditions and the impact of the Middle East conflict, Accsys said trading in the five months ended August 31 has been slower than expected as a result of inflationary pressures and interest rate increases, which have caused more cautious purchasing patterns, delayed project activity and impacted consumer confidence.

This led to significant distributor destocking across all regions during the period, with North America being most affected.

"We believe that the period of destocking is over and customer inventory is now stabilising," the firm added.

Revenue fell 5.8% to EUR56.9 million in the five months ended August 31 from EUR60.4 million, or to EUR67.5 million from EUR71.6 million including its 60-owned US joint venture. Sales volumes, including the joint venture were down 7.7% to 28,953 from 31,376.

Accsys said it has taken "decisive" actions to mitigate the macroeconomic headwinds, including price increases and proactive cost control to protect profitability.

It expects to see sales growth in the second half of the financial year with a commercial focus on new sub-distributor programmes, closer collaboration with original equipment manufacturers and further regional expansion. In North America, Accsys expects full-year growth to be at single digit levels.

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