Updates

Made Tech - Trading “materially ahead” of last month’s upgrade

April 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Made’s H1 was strong - properly strong. Sales climbed 28% to £27.8m while pretax profit rose 31% to £1.9m, showing operational gearing starting to kick in. Forecasts had already been nudged up previously, but this update release brings another upgrade as utilisation ticks higher. EPS came in at 0.74p (H1 25: 0.66p) while EBITDA jumped 35% to £2.4m, pushing margins up to 8.7% from 8.2%. Not spectacular numbers in isolation, but the direction of travel is what matters. Made continues to sit right in the slipstream of the UK public sector’s digital transformation push where healthcare, education and justice departments are leaning into digital services, data infrastructure and increasingly AI-enabled systems to drive efficienc ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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