BTG Consulting (BTG) H2 2026 earnings summary

Executive summary

• Achieved strong financial performance for the year ended 30 April 2026, with revenue and EBITDA growth ahead of market expectations.

• Continued delivery against a decade-long strategy of organic growth and value-enhancing acquisitions, supported by a resilient and diversified business model.

• Enhanced leadership team and completed rebranding to BTG Consulting plc.

Financial highlights

• Revenue increased 10% year-over-year to £168.5m, with 8% organic growth.

• Adjusted EBITDA rose 5% to £33.3m; adjusted EBITDA margin at 19.8%.

• Adjusted diluted EPS up 6% to 11.1p; dividend increased 7% to 4.6p.

• Statutory profit before tax grew 23% to £14.1m, benefiting from reduced non-underlying items.

• Net debt at £1.0m after acquisitions, buybacks, and dividends; significant headroom in bank facilities.

Outlook and guidance

• Entered new financial year with strong momentum and pipeline visibility.

• Macroeconomic uncertainty continues to drive demand for counter-cyclical services, though transactional activity remains impacted.

• Expecting further growth in line with expectations; margin improvement dependent on transactional market normalization and investment returns.

• FY27 guidance: revenue uplift from FY26 acquisitions, organic cost increases of ~4%, adjusted tax rate 26%, and planned dividend of £7.4m.