26th Nov 2025 14:30
(Alliance News) - Samuel Heath & Sons PLC on Wednesday said profit and revenue rose in the first half, but warned full-year profit will be hurt by a "significantly" lower-than-budget order intake.
The Birmingham, England based shower and bathroom accessory manufacturer said pretax profit for the six months ended September 30 rose 24% to GBP542,000 from GBP439,000 a year ago.
This was driven by a 2.0% revenue rise to GBP7.7 million from GBP7.5 million, coupled with its finance cost dropping to zero from GBP42,000 and a virtually flat cost of sales year-on-year at GBP4.1 million.
Samuel Heath maintained the same interim dividend as last year at 4.5 pence per share, which the company attributed to "uncertain trading conditions".
Looking ahead, the company said the order intake has been "significantly below" budget since June, which it noted will hurt trading in the second half of the year.
Samuel Heath said that while the UK has secured a lower US tariff, it noted that product costs aside from brassware "have risen as much as 50%, causing overall construction costs to increase substantially."
"Many customers have pressed on regardless, but we have seen some pausing of projects while assessments are made of the budget revisions required," the company added.
Samuel Heath said some of its clients have moved overseas in anticipation of the changes to the UK's autumn budget, leading to caution particularly in the London market.
"The double effects of tariffs and tax increases have led the company to take action and reduce headcount and costs in anticipation of a tougher second half year and into the next financial year," Chair Anthony Buttanshaw said.
"The company is pleased to report that the introduction of four key new finishes, including Anthracite and Old Brass, has met with expectations and are selling well," Buttanshaw said.
"However, we are expecting sales to be weaker in the second half of the year which will have an impact on our final year profit. Next year will see the launch of our Octelle collection, which is a collaboration with the esteemed interior designer, Laura Hammett which we expect to gain us new sales in our key markets."
Shares in Samuel Heath traded flat at 340.00 pence on Wednesday afternoon in London.
By Roya Shahidi, Alliance News reporter
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