LONDON, July 3, 2026, 00:01 BST
- Stelrad Group Plc (LON:SRAD) ended the day at 155p, rising 6.16%. The FTSE All-Share added 1.51%.
- Volume came in at 12,689 shares, roughly 7.5% of Google’s stated average.
- The company left its 2026 outlook steady in its May update. First-half figures are out Aug. 7.
The London Stock Exchange was closed at the time of filing. On Friday, July 3, the LSE is set for normal trading, open 0800 to 1630 BST. The last Stelrad price is from Thursday’s close.
Stelrad Group Plc (LON:SRAD) closed up 9p, or 6.16%, at 155p on Thursday. The radiator manufacturer outperformed the FTSE All-Share’s 1.51% rise, but volume was light: only 12,689 shares changed hands against an average near 170,000 reported by Google. AJ Bell gave the company a market cap of £197.4 million.
This looks like a liquidity move, not a new read on the business. Adding 9p on 127.35 million shares boosts equity by £11.5 million, but Thursday saw less than 10% of normal volume. For a small-cap that pays income, swings can come quickly—both up and down—when trading dries up.
No July 2 trading statement for Stelrad was found in the LSE-listed news checked. The latest RNS was a Director/PDMR shareholding from June 26. MarketScreener still shows Stelrad was added to the FTSE All-Share Index on June 21, so the name is now in more portfolios, but this hasn’t shifted its day-to-day liquidity.
| July 2 close/level | Price or level | Day change | Extra read |
|---|---|---|---|
| Stelrad Group (LON:SRAD) | 155p | +6.16% | Volume came in at 12,689; market cap sits at £197.4 mln |
| FTSE All-Share | 5,719.53 | +1.51% | Closed just under the 52-week high of 5,740.32 |
| FTSE 100 | 10,652.87 | +1.67% | Best finish since late April |
| FTSE 250 | 23,417.58 | +0.38% | Reached a two-week high |
London stocks were up. Reuters said the FTSE 100 climbed 1.7% to 10,652.9 and the FTSE 250 was up 0.4% as softer U.S. jobs numbers took some pressure off worries about more Fed tightening. Stelrad jumped 6.16%, well ahead of the broader market.
The fundamentals cover the rest of this trade. Stelrad’s 2025 figures had revenue down, but adjusted operating profit was up, free cash flow improved, and net debt before leases came in lower.
| Stelrad 2025 results | 2025 | 2024 | Change |
|---|---|---|---|
| Revenue | £279.6 mln | £290.6 mln | -3.8% |
| Adjusted operating profit | £32.5 mln | £31.5 mln | +3.0% |
| Adjusted operating margin | 11.6% | 10.8% | +0.8 ppt |
| Free cash flow | £20.5 mln | £9.6 mln | +114.6% |
| Net debt before lease liabilities | £51.2 mln | £59.7 mln | -14.3% |
| Total dividend per share | 8.09p | 7.79p | +3.9% |
Volume demand is still soft. Stelrad said in a May 20 AGM update that sales volumes were under pressure with market demand weak, but 2026 trading was tracking what management expected and it kept its full-year outlook steady. Interim results for the six months to June 30 are set to come out Aug. 7, the company said.
Chief Executive Trevor Harvey said in the update that Stelrad started the year well and traded as expected. He said the company is still aiming to keep operations “fully optimised.”
Davy analysts Flor O’Donoghue and Kate Nurse CFA kept their Outperform rating on May 20, calling the unchanged outlook “an encouraging signal in the current environment.” They said shares “remain attractively valued” with a 2026 P/E below 10 and an EV/EBITDA near 5. The stock ended Thursday at 155p, up 14.8% from the 135p close in their note. Davy Group
MarketScreener lists five analysts on Stelrad, with a consensus Buy and an average target of 194p, about 25% above the 155p finish. The focus turns to August results to see if margins can hold up as UK and European demand remains weak.
