• Revenue up 8.4% to $60.6M, driven by BBQ sales and NZ appliances
• EBITDA up 5.6% to $11.4M, reflecting sales growth and cost reductions
• NPAT up 10% to $6.6M, EPS up 37.1% to 8.5 cents per share

Shriro Holdings Ltd (ASX: SHM) has reported a solid set of results for the first half of the 2026 financial year. Revenue grew 8.4% to $60.6 million, primarily driven by a rebound in seasonal product sales and strong retailer and consumer reception of newly developed pizza oven products. The Casio Australia and New Zealand businesses delivered modest growth, while the plumbing division of Grohe and American Standard continues to face challenges. Gross margin was negatively impacted by increased sales of lower-margin seasonal products, clearance of excess inventory in the USA subsidiary, and supplier price increases, partially offset by currency tailwinds. Operating expenses decreased 2.5% to $15.4 million, mainly due to reduced ERP expenditure, partially offset by foreign exchange losses. EBITDA increased 5.6% to $11.4 million, reflecting the sales growth and disciplined cost management. The balance sheet remains strong, with net cash of $9.7 million at the end of the period. Shriro has returned $23.9 million to shareholders through dividends and share buy-backs in the calendar year 2025, and a further $15 million buy-back is planned for the second half of FY2026. The company reaffirms its guidance that EBITDA in FY2026 is expected to increase compared to FY2025, and it remains focused on organic brand expansion and acquisitions to drive future growth.

Shriro reaffirms its guidance that EBITDA in FY26 is expected to increase compared with FY25 EBITDA of $15.3M.

Shriro remains focused on organic brand expansion, acquisitions are now expected to play a greater role. A $15M buy-back is planned for the second half of FY26, and the Board will assess the optimal use of capital, including further on-market buy-backs or acquisitions, based on which option maximises returns to shareholders. Shriro's USA distributor for seasonal products is expected to deliver growth following completion of the new built-in BBQ range in FY27.