Unigel Group Plc

Interim Report • Aug 22, 2025

National Storage Mechanism | Additional information

RNS Number : 3413W

Unigel Group PLC

22 August 2025

Unigel Group plc

(the "Group" or the "Company")

Interim Results

Unigel Group plc (AQSE: UNX), the manufacturer and supplier of materials used in the manufacture of telecommunication fibre optic cables announces its unaudited half-year results for the period ended 30 June 2025. Comparative data is for the period ended 30 June 2024 and the year ended 31 December 2024.

Operational highlights

The Group continues to make good progress in various business areas:

·      Successful transition and ramp up of Unigel UK's partner plant in Malaysia

·      Continued cost and operational improvements in Unitape's operations in the US

·      Market share gains in our steel tape business with additional mandates from established market base

·      Profit margin enhancement through higher margins product mix, cost controls and productivity gains in our supply chain

Financial highlights

Key figures for the six months to 30 June 2025 with comparatives for the six months to 30 June 2024 and the year to 31 December 2024 were as follows:

6 months        6 months             Year

30.06.25         30.06.24            31.12.24

Revenue                                                           £18.89m         £14.80m            £29.17m

Gross profit                                                       £3.70m         £3.01m             £5.90m

Gross profit percentage                                      19.6%          20.3%               20.2%

Administrative expenses                                     £1.92m         £1.78m             £3.82m

Profit after tax                                                    £1.53m         £0.93m             £1.66m

Dividends of 1.5p and 2.0p per share were distributed in November 2024 and April 2025 respectively.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Enquiries:  

Unigel Group plc
Eric Chhoa	+44 (0) 7786 538 060
Gary Revel-Chion	+44 (0) 1273 612 122
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Jo Turner	+44 (0) 20 7213 0880
Ludovico Lazzaretti James Western

Notes to Editors

Unigel Group plc is the holding company whose operating subsidiaries, Unigel (UK) Limited ("Unigel") and Unitape Limited ("Unitape") manufacture and distribute materials used in the manufacture of telecommunication fibre optic cables.

Unigel, a wholly owned subsidiary of the Group, formulates, manufactures, and markets thixotropic gels primarily to the fibre optic cable industry. In addition, it also makes specialty gel products for the construction, green energy, and high voltage transmission apparatus markets.

Unitape, a wholly owned subsidiary of the Group, is one of the largest domestic manufacturers and suppliers of laminated steel tapes to the fibre optic cable industry in North America.

Chief Executive Officer's review

Despite continued global uncertainties and a continued anaemic global fibre optic cable market, our businesses outperformed expectations in the first half of 2025.  Most of our gains were in the steel tape segment in the US, however we also saw strong sales coming through in our thixotropic gel and cable components trading business in certain selected markets.

The Group continued to see lethargic demand growth across most major markets in the first half of 2025 in the markets where it operates.  Sentiment remains weak with continued slowdown in telecommunications network deployment as major telco operators remain cautious due to persistent high interest rates and weak and uncertain economic recovery in most markets. 

Our business initiatives to improve overall engagement with our customer base and focus on operational efficiency had brought tangible results to our margin contribution in the first half of 2025 despite increased logistics and tariff cost due to geopolitical development. We continue to be focused on cost and operational efficiency across all business areas.

In addition, the Group had invested in capacity growth and new product introduction in the first half of the year. All these initiatives will strengthen our future business prospects. I am also happy to report that we had successfully ramped up production with our Malaysian tolling plant which will contribute to our bottom-line for the rest of 2025.

The Group is maintaining an optimistic but cautious outlook for the remainder of 2025.

Business review

Turnover for the six months to 30 June 2025 grew by 27.7% compared to the previous six months, gross margin improved significantly as raw material prices and logistics costs continued to become more stable. Administrative overheads rose by 7.6% compared to the previous six months mainly due to an increase in staff costs as a result of a higher level of activity. Profit after tax rose by 65.3% to £1.53m in the six months to 30 June 2025. The Group balance sheet showed net assets of £6.03m as at 30 June 2025 compared to £4.40m on 30 June 2024.

Outlook

With so many uncertainties brought about by tariff and non-tariff policies of the US during the period under review, the outlook on the global economy remains cautious due to geopolitical conflicts, trade tensions, inflation pressure and a longer than anticipated high-interest rate environment dominating the business headlines. In our industry, the proliferation of AI and AI investment together with broadband infrastructure investments has provided optimism to the Group and its customer base.

Chairman

Sven Janne Sjoden

UNIGEL GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
PERIOD ENDED 30 JUNE 2025
						6 months to				6 months to			Year to
						30 June 2025				30 June 2024			31 December 2024
						£				£			£
TURNOVER						18,887,468				14,795,303			29,172,801
Cost of sales						(15,189,310)				(11,784,680)			(23,273,536)
Gross profit						3,698,158				3,010,623			5,899,265
Administrative expenses						(1,920,041)				(1,784,890)			(3,816,214)
OPERATING PROFIT						1,778,117				1,225,733			2,083,051
Other income
Interest receivable and similar income						285,849				77,323			109,319
Interest payable and similar charges						(30,634)				(24,142)			(63,153)
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION						2,033,332				1,278,914			2,129,217
Tax on profit on ordinary activities						(499,064)				(350,602)			(466,036)
PROFIT FOR THE FINANCIAL PERIOD FOR THE GROUP						1,534,268				928,312			1,663,181
Other comprehensive income for the period
(Loss)/gain on foreign exchange						(141,367)				7,908			22,230
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD						1,392,901				936,220			1,685,411
Minority interest						-				(58,403)			(58,403)
TOTAL COMPREHENSIVE INCOME FOR THE GROUP						1,392,901				877,817			1,627,008
CONTINUING OPERATIONS
All amounts were derived from continuing operations.
UNIGEL GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 JUNE 2025
					30 June 2025			30 June 2024			31 December 2024
			Notes		£			£			£
Fixed assets
Intangible assets					555,774			611,001			583,032
Tangible assets					1,679,330			1,237,626			1,180,255
					2,235,104			1,848,627			1,763,287
CURRENT ASSETS
Stocks					6,755,972			5,973,809			6,354,253
Debtors					6,235,201			5,707,802			4,211,623
Cash at bank and in hand					2,409,393			1,242,385			324,168
					15,400,566			12,923,996			10,890,044
CREDITORS
Amounts falling due within one year					11,429,057			10,103,802			7,539,707
NET CURRENT ASSETS					3,971,509			2,820,194			3,350,337
TOTAL ASSETS LESS CURRENT LIABILITIES					6,206,613			4,668,821			5,113,624
CREDITORS
Amounts falling due after more than one year					10,524			20,478			15,543
PROVISION FOR LIABILITIES
Deferred tax					161,950			250,262			167,681
Net assets					6,034,139			4,398,081			4,930,400
CAPITAL AND RESERVES
Called up share capital			3		72,291			72,291			72,291
Share premium					2,483,933			2,483,933			2,483,933
Profit & loss account					3,572,401			1,865,693			2,389,093
Translation reserve					(94,486)			(23,836)			(14,917)
SHAREHOLDERS' FUNDS					6,034,139			4,398,081			4,930,400

UNIGEL GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
30 JUNE 2025
	Share	Share	Retained	Translation	Minority	Total
	capital	premium	earnings	reserve	interest	equity
	£	£	£	£	£	£
At 1 January 2024	56,425	469,011	992,961	(28,921)	1,080,659	2,570,135
Upon issue of shares	15,866	2,014,922				2,030,788
Upon acquisitions					(1,139,062)	(1,139,062)
Comprehensive income for the
period
Profit for the period			928,312			928,312
Minority interest in profit/(loss) for
the period			(58,403)		58,403	-
Other comprehensive income for
the period			2,823	5,085		7,908
Total comprehensive income for
the period at 30 June 2024	72,291	2,483,933	1,865,693	(23,836)	-	4,398,081
At 1 January 2025	72,291	2,483,933	2,389,093	(14,917)	-	4,930,400
Comprehensive income for the
period
Profit for the period			1,534,268			1,534,268
Other comprehensive income for
the period			(61,798)	(79,569)		(141,367)
Dividends paid			(289,162)			(289,162)
Total comprehensive income for
the period at 30 June 2025	72,291	2,483,933	3,572,401	(94,486)	-	6,034,139

UNIGEL GROUP PLC
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
PERIOD ENDED 30 JUNE 2025
			6 months to	6 months to	Year to
		Note	30 June 2025	30 June 2024	31 December 2024
			£	£	£
Net cash inflow/(outflow) from
operating activities		1	3,379,612	575,781	1,382,971
Return on investments and
servicing of finance		2	(33,947)	(16,819)	(1,476,505)
Taxation			(24,786)	(159,938)	(380,099)
Capital expenditure		2	(695,153)	(44,084)	(68,550)
			2,625,726	354,940	(542,183)
Financing		2	(540,501)	484,877	463,783
Increase/(decrease) in cash in the period			2,085,225	839,817	(78,400)
Reconciliation of net cash flow
to movement in net debt		3
Increase/(decrease) in cash in the period			2,085,225	839,817	(78,400)
Cash inflow/(outflow) from movement in debt			540,501	239,411	(463,783)
Change in net debt resulting from cash flows			2,625,726	1,079,228	(542,183)
Opening net cash balances			(670,243)	(128,060)	(128,060)
Closing net cash balances			1,955,483	951,168	(670,243)

UNIGEL GROUP PLC
NOTES TO THE UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
PERIOD ENDED 30 JUNE 2025
1.	RECONCILIATION OF OPERATING PROFIT TO NET CASH INFLOW FRON OPERATING ACTIVITIES
			30 June 2025	30 June 2024	31 December 2024
			£	£	£
	Operating profit		1,778,117	1,225,733	2,083,051
	Depreciation and amortisation charges		109,982	107,474	215,404
	Loss on fixed asset disposals		-	65	6,750
	(Increase)/decrease in stocks		(401,719)	(994,782)	(1,375,226)
	(Increase)/decrease in debtors		(2,026,679)	(2,996,506)	(1,448,391)
	Increase/(decrease) in creditors		3,919,911	3,233,797	1,901,383
	Net cash inflow from operating activities		3,379,612	575,781	1,382,971
2.	ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE CASH FLOW STATEMENT
			30 June 2025	30 June 2024	31 December 2024
			£	£	£
	Returns on investments and servicing of finance
	Proceeds on sale of fixed assets		-	-	701
	Purchase of minority interest		-	-	(1,306,500)
	Interest received and similar income		285,849	77,323	109,319
	Interest paid and similar charges		(30,634)	(24,142)	(63,153)
	Dividends paid		(289,162)	(70,000)	(216,872)
	Net cash outflow for returns on investments and
	servicing of finance		(33,947)	(16,819)	(1,476,505)
	Capital expenditure
	Purchase of intangible fixed assets		(23,121)	(7,922)	(26,453)
	Purchase of tangible fixed assets		(672,032)	(36,162)	(42,097)
	Net cast outflow for capital expenditure		(695,153)	(44,084)	(68,550)
	Financing
	Proceeds from issue of shares		-	2,030,788	-
	Acquisition of minority interest in subsidiary		-	(1,306,500)
	(Loan repaid)/new loan received		(540,501)	(239,411)	463,783
	Net cash inflow from financing		(540,501)	484,877	463,783
3.	ANALYSIS OF CHANGES IN NET DEBT
			At 01/01/25	Cash flow	At 30/06/25
			£	£	£
	Net cash:
	Cash at bank and in hand		324,168	2,085,225	2,409,393
	Debt:
	Loan		(994,411)	540,501	(453,910)
	Cash at bank and in hand		(670,243)	2,625,726	1,955,483

UNIGEL GROUP PLC

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

PERIOD ENDED 30 JUNE 2025

1.   ACCOUNTING POLICIES

Company information

The company is a public limited company incorporated in England and Wales (registered number 13934232) and its registered office is Unigel House, 7 Park View, Alder Close, Eastbourne, BN23 6QE.

The principal activity of the group is the manufacture and sale of cable filling and flooding compounds, associated pumping and delivery equipment, and tapes.

Accounting convention and basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

The preparation of the consolidated financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the group's accounting policies. Information is given in the accounting policies noted below. 

2.	EARNINGS PER SHARE
	Earnings per share is calculated by dividing the profit after tax for the period by the weighted average number of
	ordinary shares in issue during the period.
				6 months to	6 months to	Year to
				30 June 2025	30 June 2024	31 December 2024
				£	£	£
	Profit after tax			1,534,268	928,312	1,663,181
	Weighted average ordinary shares in issue			14,458,106	12,746,537	13,955,264
	Earnings per share			10.61p	7.28p	11.92p
3.	CALLED UP SHARE CAPITAL
	Allotted, issued and fully paid:
	Number	Class:	Nominal	30 June 2025	30 June 2024	31 December 2024
			value:	£	£	£
	14,458,106	Ordinary	£0.005	72,291	72,291	72,291

4.       FORWARD-LOOKING STATEMENTS

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Group's current expectations, estimates and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Group's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. The Group cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Group only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Group will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXPKDBBKBKBAFB