ProService Building Services Marketplace issued a year‑end trading update covering the year ended 31 March that put continuing‑operations revenue at £248m and adjusted EBITDA at breakeven, versus the Group's view of market consensus at £260m revenue and breakeven EBITDA.
The Group said the shortfall reflects slower progress in mobilising and ramping the Supply Agreement with Speedy Hire, which began on 17 November 2025, alongside broader macroeconomic pressure in the UK construction sector, and it added that volumes with Speedy Hire are now trending toward the targets set at signing.
ProService, a digital marketplace for building services, said the Supply Agreement remains a material growth opportunity and the Board expects it to enhance net margins and be earnings‑accretive in the year ending March 2027.
The Group reported net debt of £27.2m (pre‑IFRS16) and total bank debt of £40.9m, noted facilities expire in September 2026, said refinancing discussions are ongoing and now expected to complete by the end of August with successful refinancing expected to resolve covenant issues.
The Board described FY27 as a transitional year and guided underlying EBITDA for FY27 of between £9m and £12m, with further detail to be provided in preliminary results expected in late summer following refinancing.
