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(Sharecast News) - Rosebank Industries surged on Tuesday as it lifted its full-year guidance following a better-than-expected performance in MW Components.
In an update for the six months to 30 June, the company said MW Components - which designs and makes engineered metal components - performed strongly in the first half, with each of the three businesses growing ahead of Rosebank's expectations.
Rosebank, which bought the business earlier this year from private equity firm American Securities, said order intake has continued in the initial ownership period, and when combined with "decisive cost and operational actions", gives the group confidence that it will exceed current market expectations for 2026.
The company also said that since taking ownership the performance of CPM has been as expected, which includes Aftermarket revenue growing consistently at around 7% in the period compared to last year. Rosebank also acquired CPM from American Securities.
"The order backlog, current pipeline and strong order intake seen in the early weeks of ownership for both the Aftermarket and Machines businesses gives us confidence that CPM is on track to meet market expectations for 2026," it said.
It added that Electrical Components International is trading in line with full-year expectations.
Rosebank now expects group adjusted operating profit and earnings per share for 2026 to be ahead of consensus forecasts.
Chief executive Simon Peckham said: "All three of our businesses are improving their performance as a result of actions taken since their acquisition. Whilst we have had to cope with well understood headwinds in the Appliance business of ECI, we are confident in our plans for each of the three businesses and look forward to the months to come."
At 1252 BST, the shares were up 12% at 334.70p.
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