The beat gets stronger

Diales Group has delivered an outstanding trading update for the year to September. Our FY26 adj. PBT estimate rises by 20% to £1.8m, from £1.5m previously. EBIT guidance has risen to not less than £1.8m, representing c. 43% growth yoy.

The resulting upgrade represents the largest since the Group was reorganised in late 2023 and highlights that the ongoing strategy continues to bear fruit.

The move to a hub and spoke model ensures that utilisation levels remain high, particularly within Europe where the bulk of the experts are located. The UK delivered a strong outcome, aided by continued progress within technical and at DPS, which continues its recovery.

Management remains confident in the outlook for the Group and the upgrade to our estimates means we raise our fair value / share from 35p to 43p.