RC Fornax PLC (AIM:RCFX) finance director Rob Shepherd joined Stephen Gunnion in the Proactive studio with more on the company’s latest results, operational transformation, and the strong order visibility underpinning expectations for significant growth in FY26.
Shepherd explained that while the recently reported statutory results reflect the business through August 2025, RC Fornax today is “a fundamentally different business.” Over the past six months, the company has strengthened governance by appointing experienced defence-sector non-executives, introduced a new sales director to improve conversion of pipeline opportunities, and brought in a technology and innovation manager driving new initiatives — including space-related projects.
A key highlight is the company’s growing order book. Shepherd said: “Through the first half, we've got some £4.3 million worth of orders in the pipe… and we can see the steady increase year on year.” This visibility underpins guidance for at least 40% sales growth, with the company targeting revenue just shy of £6 million for FY26.
Shepherd also discussed the potential upside from the delayed Defence Investment Plan (DIP), noting that once clarity is provided, major agreements could convert “very quickly,” creating acceleration opportunities.
In addition, SME Procure — now at minimum viable product stage — aims to streamline defence procurement, reduce costs and improve speed by digitally matching buyers and suppliers.
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