EARNINGS AND TRADING: Mulberry loss narrows; Hardide raises guidance
The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
----------
Mulberry Group PLC - Somerset, England-based luxury handbag maker - Pretax loss narrows to £8.9 million in the 52 weeks ended March 28 from £32.2 million the year prior. Revenue rises 4.2% to £125.5 million from £120.4 million, with growth accelerating 11% in the second half. Gross margin increases to 72% from 67% on-year, reflecting stronger full-price trading and reduced promotional activity, translating into an improved bottom line. "Momentum built throughout the year, with a particularly strong second half, demonstrating that the actions we have taken are delivering tangible results," says Chief Executive Andrea Baldo. Trading in the current financial year has started "positively", with revenue for the 13 weeks to June 27 up 23% from last year. Retail & Digital revenue is 18% higher than last year, in the new financial year, and 21% higher on a like-for-like basis, with all regions delivering LFL double digit growth. Mulberry says it remains focused on continuing to rebuild gross margin and restoring profitability, while continuing to target annual revenue of more than £200 million and a 15% adjusted earnings before interest and tax margin over the medium term.
----------
Personal Group Holdings PLC - Milton Keynes-based employee benefits and services provider - Expects revenue of £25.7 million in the six-months ended June 30, up 10% from £23.3 million the year prior, with more than 90% from recurring revenue sources. Highlights robust revenue growth across all areas of the business, providing good visibility for the full year and beyond. In particular, notes
Insurance revenue up 11%, driven by strong new business sales and higher average premiums, and
Benefits & Reward revenue up 9.6%. Adjusted earnings before interest, tax, depreciation, amortisation climbs 22% to £6.7 million from £5.5 million. "The group continues to benefit from high levels of recurring revenues, a growing product offering and expanding partner programme, supported by excellent cash generation and a strong balance sheet. These factors, combined with the continued strong Insurance performance in H1 2026, provide the board with confidence that trading remains in line with market expectations for the full year," company states. Personal Group believes market expectations for 2026 to be revenue of £54.4 million and adjusted Ebitda of £14.1 million.
----------
NAHL Group PLC - Kettering, England-based consumer marketing services provider focused on the legal services sector - Continues to trade in line with management's expectations for the full year. Expects revenue of £19.7 million in the six months ended June 30, up 3% on-year, with underlying operating profit expected to have increased to £3.4 million from £3.2 million. Continues to deliver strong levels of cash generation and free cash flow increases by 42% to £2.1 million. As a result, net debt at June 30 reduces by 68% to £1.0 million from a year ago. Looking ahead, NAHL anticipates that the number of settlements, and therefore revenue and cash from settlements, will be "notably" lower the year prior, due to the lower number of enquiries placed into the National Accident Helpline over the last two years as working capital has been managed. As a result, expects net debt to increase moderately in the second half of 2026. In addition, NAHL says it is "actively exploring" suitable options to accelerate value for shareholders and appropriate capital allocation and aiming to reach a "positive conclusion" as soon as possible.
----------
Hardide PLC - Bicester, England-based surface treatment technology firm - Expects that full year financial performance will be "materially" ahead of its previous expectations for the financial year ended September 30, which it says were for Ebitda of £4.3 million and revenue of £13.4 million.
Revenue totals £4.1 million for the third quarter ended June 30, taking sales year-to-date to £8.9 million. In addition, operating profit margins are higher than anticipated, reflecting management of input cost inflation, the ongoing identification of operational efficiencies, and a lower than expected investment. "The momentum and trajectory of the business mean that the board now expects to achieve its first objective to double its revenues in the current financial year, well ahead of the original schedule. Building on this progress, the board believes that the foundations are now in place to support an ambition to more than double annual revenues again over the next 2-3 years," it says. To support the anticipated growth, Hardide approves capital investment in three new coating reactors and associated infrastructure at a total cost of £4.5 million, to be funded through a combination of internal cash resources and borrowings. Growth is anticipated to be achieved by diversifying the customer base, growing existing key accounts, and developing the potential for significant revenues in the Middle East from a similar end use application. In addition, Hardide flags a growing pipeline of new business opportunities. "I am delighted with the ongoing growth trajectory and progress being achieved across the group," Chief Executive Matt Hamblin comments.
----------
Montanaro European Smaller Companies Trust PLC - Edinburgh-headquartered investment trust - Net asset value per ordinary share rises 1.0% to 163.7 pence at March 31 from 162.0p the year prior. Total NAV return is 1% over the financial year ended March 31, underperforming the benchmark MSCI Europe ex-UK SmallCap Index which climbed 18%. "Whilst shorter term performance has suffered from significant style headwinds, long-term returns have been strong," the trust stresses, noting NAV total return has outperformed the benchmark by 41% over a ten-year time frame. The trust declares a total dividend of 1.90p per share, up 18% on-year from 1.31p, as well as a special payout of 0.35p per share compared with nil the year prior. The largest detractors to performance were ATOSS Software SE, a German developer of workforce management software, CTS Eventim AG & Co KGaA, a German operator of ticketing platforms and live entertainment services across Europe, and Reply Spa, an Italian IT consulting and digital services provider. Positive contributors were: Kitron ASA, a Norwegian electronics manufacturing services company, Technoprobe Spa, an Italian manufacturer of probe cards used in semiconductor testing, and Plejd AB, a Swedish developer of smart lighting and electrical products.
----------
Tristel PLC - Newmarket, England-based maker of infection prevention products - Confirms another year of significant growth with results for the financial year ended June 30 expected to be in line with market expectations and the company's own performance targets. Revenue is up 10% to £51.1 million from £46.5 million a year ago, with adjusted pretax profit expected to be no less than £11.5 million, marginally above market expectations, and up 14% from £10.1 million a year ago. Adjusted Ebitda margin remains comfortably above the 25% target. Tristel says it continues to be debt free and cash generative which supports continued growth in overseas territories. Cash balances at June 30 were £16.0 million, up from £12.8 million a year ago.
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.