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(Sharecast News) - Rosebank Industries said in an update on Thursday that ECI traded in line with full-year expectations in the first four months of 2026, as the group said its acquisitions of CPM and MW Components remained on track.
The company said ECI delivered a good performance between 1 January and 30 April, with adjusted operating profit and margin trending in line with current full-year market expectations and significantly ahead year-on-year.
Revenue in the electrification and industrial division rose year-on-year, although that was offset by a decline in appliance and HVAC.
Rosebank said the latter reflected its decision to exit certain low-margin business, as well as well-documented headwinds among global appliance and HVAC manufacturers.
The group said good progress continued on ECI's initial 24-month restructuring programme.
The planned exit from costly working-capital customer factoring and supplier finance arrangements has now been completed.
Rosebank also said management continued to fully recover all tariffs incurred.
The company said it continued to pursue an active pipeline of bolt-on acquisition opportunities for ECI, while remaining cautious during a period of geopolitical uncertainty.
It also noted bolt-on acquisition opportunities for CPM's aftermarket business and all three divisions of MW Components.
Rosebank said it expected to complete the acquisition of CPM next week and the acquisition of MW Components a few weeks later.
The group completed its admission to the Main Market of the London Stock Exchange on 1 May and said it anticipated inclusion in the next quarterly review of the FTSE 250 index.
Chief executive Simon Peckham said the company was pleased with ECI's performance, which was in line with expectations and its acquisition plan.
"We also look forward to completing the acquisitions of MW Components and CPM," he said.
"While mindful of the geopolitical backdrop, we continue to focus on operational improvement plans, and look forward with confidence, as a US-focused, diversified group of strong businesses."
At 1400 BST, shares in Rosebank Industries were down 2.38% at 369p.
Reporting by Josh White for Sharecast.com.
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