Aug 18 2026
Industrials
Recent Research
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Kingspan Group
Seeing is believing; upgrading 2027 earnings forecast by over 25%
Kingspan has stepped confidently into a new and exciting growth phase. Interim results were enthusiastically received: full year guidance was raised with mid-teen profit growth flagged...
Kingspan Group
Expands Latin America presence with entry into Argentina
Deals like BMC naturally attract considerable attention but this has not detracted Kingspan from a core objective and strategy of expanding its global leadership in insulated panels....
UK housebuilders
Results recap and forecast updates; FY 2027 to be another year of margin misery?
The UK housebuilders disappointed gross margin market expectations in the latest set of results (some by lowering guidance, others by missing forecasts). While build cost inflation is...
Hill & Smith
Strong H1 2026 results
Hill & Smith (HILS) has reported strong interim results leading it to raise full year guidance. The US business had strong organic revenue growth and margin expansion, which was partially...
Kingspan Group
BMC deal accelerates data centre growth opportunity
The BMC acquisition ticks all the right boxes for Kingspan. It is a fast growing, complementary business; it will double the group’s potential addressable market share in the rapidly...
Mincon Group
Model update
Despite unchanged earnings at an operating profit level, we believe risks are tilted to the upside for Mincon in FY26. There is c.15% upside to our price target, and we reiterate our...
Bellway plc
Mixed FY26 results; new £50m buyback announced
Bellway reported a mixed set of results, with completions ahead of expectations but adjusted operating profit was at the bottom of the prior guided range due to lower margins. The...
Genuit Group
Outlook unchanged
Genuit lowered expectations for 2026 in May, and guidance suggesting limited change in adjusted operating profit this year has been reiterated. The group had a challenging first half,...
Marshalls
Stabilising the platform
The priority for Marshalls this year is to deliver on cost savings and stabilise earnings expectations. First half results point to encouraging progress. Marshalls is seeking to improve...
Kingspan Group
Beginning to motor with significant earnings upgrades likely
Kingspan enters the second half of the year with a real sense that the group is picking up momentum at pace. Fresh guidance is for trading profit this year some 7% above the current...
