BTG Consulting (BTG) H2 2026 earnings summary

Executive summary

• Achieved strong financial performance ahead of market expectations, with revenue reaching £168.5m and EBITDA of £33.3m for the year ended 30 April 2026.

• Profit before tax reached £25m, a 23% statutory increase year-over-year, driven by lower underlying items.

• Enhanced leadership team and completed a successful rebrand to BTG Consulting plc, supporting a broader multi-service offering.

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

Financial highlights

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

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

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

• Net debt at year-end was £1m after £8.1m in acquisition payments, with significant headroom in bank facilities.

• Over the last decade, revenue trebled and profit before tax grew 5x, with an 8% average dividend growth rate.

Outlook and guidance

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

• Margin improvement anticipated, subject to normalization in transactional markets and returns on recent investments.

• Medium-term revenue target set at £200m.

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