Stelrad Group plc, the Newcastle-based radiator firm, said its revenue fell 9.1% to £124 million in the six months to June 30, 2026, “due to a 14.6% decline in sales volumes during the period, including the exit from a loss-making contract, offset in part by selling price benefits.”

Adjusted operating profit rose 4.9% to £16.7 million “benefitting from the successful delivery of our commercial and operational initiatives, which have further enhanced profitability and offset market weakness.”

Interim dividend rose 5% to 3.19p per share.

Stelrad CEO Trevor Harvey said: “During the period, we delivered a strong financial performance against a backdrop of ongoing economic uncertainty suppressing volumes in the group’s key markets.

“Crucially, despite this environment, we have maintained our market leadership position and continued to optimise our cost base.

“The board remains confident in its strategic pillars and in driving continued shareholder value. Our operational excellence initiatives, underpinned by our competitive advantages and market positioning, mean that Stelrad remains well-placed to target market share gains across the geographies in which we operate.”