Made Tech Group (MTEC) Trading update summary

H1 trading performance

• H1 FY26 revenue ~£27.7m, up ~27% YoY from £21.8m, following strong Sales Bookings momentum in H2 FY25.

• H1 FY26 Adjusted EBITDA expected at ~£2.4m, up ~33% YoY from £1.8m; margin rose to ~8.7% from 8.2%, reflecting operational efficiencies, partly offset by a higher-than-target contractor base.

Cash and contracted backlog

• Net cash was £11.9m at 30 Nov 2025, versus £10.4m at FY25 and £9.1m at H1 FY25; the business remained debt-free.

• Contracted Backlog was ~£74.0m at 30 Nov 2025, versus £92.2m at FY25 and £80.8m at H1 FY25, providing coverage through the remainder of FY26 and into FY27.

• H1 FY26 Sales Bookings were softer than the strong prior-year period, while the pipeline remained active, with opportunities expected to increase backlog in H2.

FY26 outlook

• Following strong H1 trading, FY26 trading is expected to be significantly ahead of current market expectations, with revenue ~10% higher and Adjusted EBITDA margins increasing on improved operational gearing.

• Management cited robust cash generation, a solid backlog and UK Government technology priorities as supports for its optimistic outlook.