MS INTERNATIONAL (MSI) H1 2026 earnings summary

Executive summary

• Interim results published later than usual to reflect recent trading and significant company growth.

• Medium to long-term prospects described as the best in company history, with a strategic focus on 'Defence and Security' and divestment of non-core divisions.

• Board strengthened with new appointments, including a new Finance Director and CEO for 'Defence and Security'.

Financial highlights

• Revenue for the half-year ended 31 October 2025 was £55.81m, up from £54.72m year-over-year.

• Profit before tax was £8.47m (2024: £8.77m); adjusted profit before tax (excluding derivative gains/losses) was £9.28m, up from £7.98m.

• Basic earnings per share were 38.5p (2024: 39.8p); diluted EPS was 37.6p (2024: 38.3p).

• Cash and cash equivalents increased to £34.32m (2024: £27.85m).

• Interim dividend increased to 6p per share (2024: 5p), payable 20 February 2026.

Outlook and guidance

• Focus remains on 'Defence and Security' amid global uncertainty and rising interest in defence products.

• Growth pace is difficult to predict due to economic and political factors, but long-term prospects are strong.