Heath (samuel) & Sons plc AIM:HSM
- Incorporated
- United Kingdom
- Chief executive
- Martyn P. Whieldon
- Employees
- 121
- Reports in
- GBP
- Companies House
- 00031942
Read straight from the annual reports
255p at close on 8 Oct 2026 · 12 reported years, 2015–2026
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
Samuel Heath & Sons plc makes luxury bathroom fittings and door hardware at its Birmingham factory. In the year to 31 March 2026 sales held steady at £14.8m, the same as the year before, but profit before tax fell to £375k from £1.2m. The company said trade slowed while its costs rose, especially employers' national insurance. A weaker US dollar also cut the profit it made on sales in North America. On top of that came a one-off restructuring cost of £383,000, linked to reducing staff numbers in autumn 2025. Cash at the year end rose to £2.8m from £2.2m, and the company has no borrowings. It raised no money from shareholders and kept the dividend at 13.06p a share. Management said sales and profits in the first quarter of the new year were better than in the second half of last year. However, orders are down, the summer is expected to be difficult and there is much uncertainty. The auditor gave a clean opinion and raised no doubt about the company's ability to keep going.
Brand value, design/manufacturing quality, customer service and fast delivery times
Customer value proposition supported by brand recognition, high quality in-house finishing, regular direct contact with resellers/specifiers, and industry leading delivery times
page 7New product development and market/geographic approvals
Developing current products to meet approval requirements of new markets which will start to add sales; premium Octelle collection launching late summer, receiving positive response
page 4Gross margin compression from weaker USD and tariff pass-through
Gross profit margin reduced from 46.3% (2025) to 44.4% (2026); a weaker US dollar reduced margin on North America sales; US tariffs of £384,000 were passed through in revenue, cost included in full in selling and distribution costs
page 5Rising national insurance contributions and cost inflation
A slowdown in trade coupled with increased costs, particularly national insurance contributions, contributed to a more difficult year
page 3£383k charge: Exceptional restructuring costs (redundancy, restructuring and other fees)
page 25Sales and profitability in Q1 of the current year have improved over H2 of last year; however orders are down and the summer is expected to be difficult, with orders expected to improve again in September amid much uncertainty.
page 5No significant events to report post the reporting period; financial statements authorised for issue 23 July 2026 with no events after the reporting period impacting the statements.
page 53Directors recommend maintaining the final dividend at 8.5625p (2025: 8.5625p), paid 28 Sept 2026 to shareholders registered 21 Aug 2026; total dividend for year (interim 4.50p + final 8.5625p) = £331k (2025: £331k). No explicit formal payout-ratio policy stated beyond directors' recommendation each year.
page 4Unqualified ('true and fair') audit opinion from MHA (Martin Ramsey, signed 27 July 2026). Directors adopted going concern basis; order book described as strong with solid cash balance of £2.80m; scenario/sensitivity review performed to September 2027; no material uncertainty identified by auditor. Group materiality £75,700 (10% of PBT before non-recurring costs); non-recurring costs of £758k excluded from materiality base. Key audit matters: inventory valuation, defined benefit pension scheme valuation of asset, revaluation of freehold land and buildings.
page 17- Volatility in commodity prices and delivery disruption as the Group manufactures from bought-in raw materialsp.8
- Volatile exchange rate movements, as a substantial minority of revenue is earned in foreign currency and materials are sourced in foreign currencyp.8
- UK government tax policy changes affecting the Company and its customer base (property investment in key markets)p.8
- Increasing international tariffs could make trade more difficult and affect foreign exchange ratesp.8
Read from C000607-AR-2026-ch.
11 annual reports read, FY2016 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (11)
FY2027Next report expected 31 Jul 2027