Metir Plc Regulatory News (MET)

31 July 2025

Metir plc

("Metir" or the "Company")

Interim Trading Update

Metir plc (AIM: MET), the leading global provider of mobile and point-of-use water and environmental testing technology, is pleased to provide a trading update ahead of its interim results for the six months ending 30 June 2025 (the "Period"), which will be published in September 2025.

Following a year of strategic reset in 2024, in line with the Company's announcement on 29 May 2025, trading in the first half of 2025 was significantly ahead of recent prior periods. The Group's revenue for the Period was £931,000 (30 June 2024: £255,000)1. The Group's cash balance at the Period-end was £586,000, a materially improved position as a result of the successful fundraise that closed on 10 June 2025 ("Fundraise").

This strong revenue performance was driven by increased demand for MicroTox® LX instruments, which in turn supported a growing volume of reagent sales, representing £155,000 during the Period. In addition, revenue of £386,000 from the Group's Qatar project and the deployment of 27 Continuous Toxicity Monitors (CTMs) is being recognised in 2025. The Qatar project is due for completion by the end of the third quarter following the successful integration of upgraded software to record CTM data from the fully installed units. This project's completion marks a major milestone for the Group and establishes a strategic foothold in the Middle East.

The Group's operational and financial transformation, which began in 2024, is now delivering clear results in 2025. The successful rebranding to Metir plc in February 2025, alongside strengthened leadership and enhanced governance, has improved the Group's positioning to scale up production, accelerate commercialisation of new products and pursue international growth opportunities, including major toxic water testing projects. The Group raised net proceeds of £703,000 through the Fundraise, with an additional Director's contribution of £70,000 in July 2025, to support this momentum.

In June 2025, the Group launched its Sulphate Reducing Bacteria (SRB) kits, adding a new revenue stream to be recognised in the second half of 2025. The Group is focused on near-term revenue generation, expanding MicroTox® LX distribution, starting production of MicroTox® FX portable units and increasing associated reagent sales.

In parallel, commercial testing of a real-time Pathogen Detector in partnership with Aptamer Group plc is underway. The Group is also advancing its proprietary mobile PFAS testing technology in collaboration with Swansea University and a US technology partner, aiming to complete optimisation and establish Metir as the global leader in mobile PFAS detection solutions.

Bob Moore, Executive Chairman and Chief Executive Officer, Metir plc, commented:

"The Board is encouraged by the strong sales performance achieved in the first half of 2025 and remains firmly focused on scaling revenue, enhancing gross margins and progressing towards sustainable cash generation.

"Metir is investing prudently in infrastructure and increasing sales and marketing activity to drive future growth. The Group remains committed to increasing our market share and expanding our global footprint across the growing environmental and water testing sectors. This includes pursuing major toxic water testing opportunities, similar to the CTM deployment in Qatar, and commercialising our latest innovations.

"We look forward to updating investors on our continued progress in the months ahead."

1 The unaudited revenue for the period ended 30 June 2024 of £255,000 included income of £143,795 relating to the Qatar project, which was expected to be recognised in 2024; however in the financial results for the year ended 31 December 2024 as published on 10 July 2025, this was amended and removed due to outstanding project completion matters and payment delays in 2024, all of which were only recognised to be received in 2025.

- Ends -

About Metir

Metir plc is a leading global provider of mobile and point-of-use water and environmental testing technology. Through its two established divisions, Modern Water and Microsaic Systems, the Company develops and supplies innovative, easy-to-use solutions that deliver rapid, accurate water quality results, helping industries, utilities and regulators monitor safety and compliance in real time.

With a strong focus on data-driven insight and field-ready design, Metir's technology supports critical decision-making across sectors, including environmental monitoring, public health and industrial process management.

Headquartered in York, UK, Metir serves worldwide customers and is dedicated to advancing water testing standards through innovative, accessible solutions.

For more information, please visit  https://www.metirplc.com