- 35 per cent growth in like-for-like first-half revenue
- Underlying operating profit up 131 per cent to £4.2mn on revenue of £21.3mn
- Return on investment exceeds 25 per cent, up from 18 per cent in 2021
- Analysts upgrade EPS estimates by a quarter for both 2022 and 2023
Crestchic (LOAD:272p), a fast-growing business that makes, sells and rents load banks and transformers for the commissioning, testing and maintenance of independent, off-grid power sources, has issued its fourth earnings upgrade this year, and it's another massive one, too.
New factory capacity at the expanded Burton on Trent facility is now onstream and the group’s order book is at record levels, the issue – and one that any finance director would welcome – is managing the ramp up in production capacity and utilisation rates to meet robust end market demand. Crestchic is seeing notable demand in its high-margin rental business (divisional revenue surged 43 per cent to £12.4mn), highlighting its exposure to secular growth themes: data centres, grid security, renewables, and battery farms. Revenue growth was across the board, hardly surprising given that these themes are playing out globally.