MS INTERNATIONAL (MSI) H2 2024 earnings summary

Executive summary

• Achieved record pre-tax profit of £15.71m for the year ended April 2024, up from £5.08m year-over-year.

• Revenue reached an all-time high of £109.58m, surpassing £100m for the first time, compared to £83.96m last year.

• Basic earnings per share rose to 71.0p from 25.6p year-over-year.

• Order book increased 40% to £162m at year-end.

• Cash and cash equivalents at a record £42.68m, up from £15.25m.

Financial highlights

• Gross profit increased to £33.87m from £23.40m year-over-year.

• Group operating profit rose to £14.75m from £5.25m.

• Profit for the year attributable to equity holders was £11.5m, up from £4.12m.

• Total comprehensive income for the year was £13.67m, up from £3.93m.

• Final dividend proposed at 16.5p per share, total for the year 19.5p (2023: 15p).

Outlook and guidance

• Defence and Security division expects continued strong performance, with significant deliveries to US, UK, and German navies.

• Anticipates further growth in land-based counter-drone systems and ongoing investment in production capacity.

• Forgings division outlook depends on global material handling industry activity.

• Petrol Station Superstructures division remains robust in the UK; Eastern Europe outlook depends on geopolitical developments.

• Corporate Branding UK operations expected to continue growing; restructuring in Netherlands and Germany progressing.