ProService Building Services Marketplace (PRO) H2 2026 earnings summary

Executive summary

• Completed transformation to a pure digital marketplace, fully exiting equipment ownership and legacy hire model.

• Mobilised Speedy partnership, expanding customer base and operational scale.

• Separation from THSC and associated costs impacted cashflow, but now complete.

• Initiated Project Sync (AI/automation), moving from development to deployment phase.

• Management focused on delivering FY27 results in line with guidance.

Financial highlights

• FY26 revenue from continuing operations: £248.1m (down 6.8% year-over-year on proforma basis).

• Underlying EBITDA broadly break-even at (£0.4m), down from £11.0m proforma prior year.

• Net debt reduced to £30.5m from £97.6m, aided by disposals and repayment of £21.6m in facilities.

• Gross margin remained resilient at 20-22% despite operational challenges.

• Returned to revenue growth at year-end, with Q1 FY27 revenue up 20% year-over-year.

Outlook and guidance

• On track to deliver FY27 EBITDA of £9-12m, with trading ahead of budget in early FY27.

• Project Sync expected to drive significant productivity and customer service improvements in FY27.

• ERP system planned to go live at FY27 year-end, unlocking further benefits.

• Costs related to THSC TSA reducing, to be eliminated in FY28.