21st Sep 2026 09:58
(Alliance News) - Elixirr International PLC on Monday reported a hefty increase in AI-driven sales as it reported double-digit growth in half-year sales and profit.
The London-based consultancy said pretax profit rose 17% to GBP18.0 million in the six months ended June 30 from GBP15.4 million a year prior, with revenue up 25% to GBP89.0 million from GBP71.4 million.
Adjusted earnings before interest, tax, depreciation and amortisation surged 29% to GBP27.6 million from GBP21.5 million at a margin of 31%, improved on-year from 30%.
Adjusted diluted earnings per share grew 18% to 34.2 pence from 29.0p.
Elixirr said it focused on higher value projects for clients delivering higher margin revenue in the first half of 2026 and reported continued strong growth in AI-related work, with AI-related revenue nearly trebled to GBP8.1 million from GBP2.8 million.
"We have had another strong first half, with revenue up 25% and adjusted Ebitda up 29%, demonstrating continued profitable growth as we scale and invest in the business for our next phase of growth," Chief Executive Stephen Newton said. "AI is changing what our clients need from us."
Free cash flow fell to GBP1.8 million from GBP7.9 million, which Elixirr attributed to the impact of legacy debtor terms in acquired businesses and the timing of tax payments.
Looking ahead, Elixirr sees 2026 adjusted Ebitda "in line with market expectations" with revenue "broadly in line".
Despite this, shares in Elixirr plummeted 12% to 550.00p each in London on Monday morning.
Broker Peel Hunt downgraded its rating on Elixirr to 'reduce' from 'buy' and slashed its share price target to 570p from 1,100p.
"With organic growth slowing and scale still modest relative to peers, we believe Elixirr's roll-up model carries greater execution risk than the market has previously priced in," the broker commented after the results.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Elixirr International