Oct 29 2025
Industrials
Recent Research
SigmaRoc plc, Updating forecasts
Oct 29 2025
SigmaRoc plc, Confidence in FY25 reiterated
Oct 21 2025
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Smurfit Westrock
Q3 adjusted EBITDA in line with guidance
Smurfit Westrock has announced a 3% year-on-year increase in adjusted EBITDA for Q3 with the result as expected. A stand-out in the quarter was significant free cash flow...
SigmaRoc plc
Updating forecasts
We have updated our SigmaRoc (SRC) forecasts and price target following its recent trading update. While the stock has performed strongly year-to-date (+63%), we see further upside...
CRH
Q3 results to highlight consistent profit growth
We believe a positive Q3 after a weather-impacted Q2 will leave CRH well on its way to another year of double-digit profit growth in 2025. The stock has done well year-to-date,...
Holcim
Q3 EBIT ahead of forecasts; FY guidance unchanged
Good momentum in margins, particularly in Europe and AMEA, saw the company beat consensus EBIT expectations by 3% in Q3. Full year guidance has been maintained and a healthy outlook...
Mincon Group
Q3 as expected; improved upside potential for 2026
Mincon Group’s Q3 revenue and gross margin trends should increase confidence in 2025 forecasts, which we will leave unchanged following today’s announcement. The recently signed...
SigmaRoc plc
Confidence in FY25 reiterated
SigmaRoc continues to navigate a challenging market backdrop, with Q3 results reflecting a solid performance. Early signs of recovery across key markets – particularly in Belgium and...
Watkin Jones
FY25 to be in line with expectations
Following two important contracts agreed in August and September, Watkin Jones has guided that FY25 results will be in line with market forecasts at an operating profit level. The...
Holcim
Xella to be acquired for €1.85bn
With a renewed focus on Europe following the spin-off of Amrize, today’s deal adds increased depth to Holcim’s position in the European walling market.
Travis Perkins plc
Waiting for Gavin
This is likely to be the last trading update from Travis Perkins before the arrival of Gavin Slark as CEO. The challenges that await him are well understood, not helped by a persistently...
Bellway plc
FY25 ahead of expectations; £150m buyback launched
Bellway’s FY25 is just over 2% ahead of expectations, driven by a slightly better margin performance. The FY26 margin is guided slightly below current expectations, and we see very...
