RE: Substantial sell or glitch?20 Feb 2026 13:21
Reading the Trading Update from 13 Jan '26, they claim liquidity of £171m with an undrawn Revolving Credit Facility of £90m. Although, I agree that £34.8m ('24) to service their debt must sting.
UK Interiors seems to be turning around and UK Roofing continues to be strong (albeit both showing a 1% contraction of sales in H2) giving FY LFL sales up 3% & 2% respectively. France, Germany & Ireland all struggled in '25.
It's going to be an "interesting" 2026. If the European construction market comes back, it would be nice if they could make inroads into reducing their debt (or at least stop it growing any bigger).