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10 Dec 2025 07:00
10 December 2025
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
MADE TECH GROUP PLC
("Made Tech", the "Group" or the "Company")
FIRST HALF TRADING UPDATE
Trading significantly ahead of expectations
Made Tech, a leading provider of digital, data and technology services to the UK public sector, is pleased to announce a trading update for the 6 months ended 30 November 2025 ("H1 FY26").
Revenue for H1 FY26 was c.£27.7 million (H1 FY25: £21.8 million), representing a year-on-year increase of c.27% following good Sales Bookings1 momentum in the second half of FY25.
Adjusted EBITDA2 for H1 is expected to be c.£2.4 million (H1 FY25: £1.8 million), c.33% up on the equivalent prior year period. This represents an increase in margin from 8.2% to c.8.7%, a result of operational efficiencies, offset by a higher than target contractor base.
Net cash as at 30 November 2025 was £11.9 million (FY25: £10.4 million; H1 FY25: £9.1 million), reflecting the continuing strong operating cash flow conversion of the business. Made Tech remains debt-free.
As at 30 November 2025 Contracted Backlog3 was c.£74.0 million (FY25: £92.2 million; H1 FY25: £80.8 million) which provides good contractual coverage for the remainder of FY26 and into FY27. Sales bookings for H1 FY26 were softer than the strong prior year performance but the Sales Booking pipeline remains very active with a number of opportunities expected to increase the Contracted Backlog position in H2.
As a result of the strong trading performance in the first half of the year, the Board now expects trading for FY26 to be significantly ahead of current market expectations4, with revenue expected to be c.10% higher and Adjusted EBITDA margins increasing, reflecting improved operational gearing. The Group looks forward to announcing its Interim results for the 6 month period ended 30 November 2025 in February 2026.
Rory MacDonald, Chief Executive Officer, commented:
"The first half of 2026 has been an exceptionally strong period for both revenue and Adjusted EBITDA, building on the momentum seen in FY25. Robust cash generation has further improved our balance sheet position and the strategic optionality this provides. Our near-term focus remains on sales pipeline conversion and adding to our already solid Contracted Backlog position, giving us good visibility into FY27.
The UK Government has emphasised the significant role technology will play in delivering its priorities, and we believe the Group continues to be well-positioned to capitalise on these opportunities. Consequently, we remain optimistic and confident in our outlook."
Notes:
All financials are based on unaudited figures.
1 | Sales Bookings represent the total value of sales contracts awarded in the Period, to be delivered in FY26-FY30. Net Sales Bookings includes the value of sales contracts previously recognised that lapsed during the Period. |
2 | Adjusted EBITDA has been adjusted for the exclusion of depreciation, amortisation, impairments, exceptional items and share-based payment charge. |
3 | Contracted Backlog is the value of contracted revenue that has not yet been recognised. |
4 | Based on the latest published equity research, the Company understands current market consensus for the year ended 31 May 2026 (FY26) to be revenue of £50.1m, Adjusted EBITDA of £3.9m and cash of £13.1m, and for the year ended 31 May 2027 (FY27) to be revenue of £55.1m, Adjusted EBITDA of £4.4m and cash of £16.1m. |
Enquiries:
Made Tech Group plc Rory MacDonald, CEO Neil Elton, CFO | Email: investor-relations@madetech.com |
Canaccord Genuity Limited (Nominated Adviser & Broker) Simon Bridges / Harry Gooden / Andrew Potts / Elizabeth Halley-Stott | Tel: +44 (0) 20 7523 8000
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