FY26 results are marginally ahead of guidance provided in April’s trading update. Headline revenue increased 10.6% to £393.4m, underpinned by the Fibo acquisition in October 2025, with organic L4L revenue growth of 0.6%. Operating margin of 12.2% declined 30bps yoy due to the dilutive effect of Fibo (c. 10% operating margin). Operating profit grew 7.9% to £48.0m (FY25: £44.5m excl. Johnson Tiles), marginally ahead of Zeus’ estimate of £47.5m. This resulted in adj pre-tax profit growing 8.2% to £ ....
