OCU Group, the Stockport-based energy transition and utilities infrastructure services company, has broken the £1bn revenue mark for the first time.
It reported strong growth, strategic investment, and international expansion.
Group revenue increased by 37.8% to £1.221bm. Adjusted operating profit increased by 37.7% to £136.1m, while adjusted EBITDA rose by 38.9% to £154.1m.
The previous year’s £63.6m pre-tax profit, before exceptional items, has become a pre-tax loss of £20.1m.
However, the group cautions that this is not reflective of its performance since it includes a non-cash goodwill amortisation expense of £76.3m (FY25 £64.5m) along with exceptional costs of £6.7m (FY25: £28.8m).
The group said its underlying trading performance and liquidity position remain strong, adding: “Both features are a function of the accounting treatment applied to our acquisitive growth strategy, rather than any deterioration in performance.
“Adjusted operating profit is the metric we consider most representative of underlying performance, as it removes non-cash goodwill amortisation and exceptional items.”
Adjusted operating profit was £136.1m for the year ended April 30, 2026, up 37.7% from £98.9m in FY25.
OCU Group CEO, Michael Hughes, said: “Surpassing £1bn in annual revenue for the first time is a significant achievement for OCU Group.
“It reflects the strength of our people, the trust of our clients, and the effectiveness of a strategy built on operational excellence, disciplined growth, and long-term infrastructure investment.”
Excluding the contribution from acquisitions completed during FY25 and FY26, revenue grew organically by 24.8%, reflecting strong performance across OCU’s utilities and energy operations.
The group’s order book of contracted work and framework opportunities also surpassed £4bn in the year, providing a strong foundation for continued growth.
David Snowball, chief financial officer, said: “OCU Group has delivered another year of strong, profitable growth, while establishing our international platform in Australia and New Zealand.
“The quality of that growth matters as much as its scale: disciplined commercial control, strong working capital management and continued investment in the people, systems and capabilities that make growth sustainable.
“With a resilient capital structure and robust financial footing, we enter FY27 from a position of strength, well placed to deliver for clients, colleagues and shareholders long into the future.”
The long term drivers supporting OCU’s markets remain firmly in place.
The transition to lower carbon energy systems, the modernisation of ageing infrastructure, and growing digital connectivity needs continue to create significant opportunities across the group, it said.
Rising electricity demand, fuelled in part by investment in new and expanded data centres, is further increasing the need for the grid connections, substations and associated power and digital infrastructure that OCU designs and delivers.
OCU has further enhanced its power capabilities in the year through the establishment of an in-house design team operating in both the UK and India.
During the year, OCU completed four acquisitions, broadening its capabilities and establishing a platform for growth in Australia and New Zealand, a large market with high growth potential supported by investment in renewable energy, electricity networks and storage.
The acquisition of All Energy Contracting in July 2025 was followed by Pilecom and Bam Bam in December 2025, creating complementary capabilities across renewable energy, power infrastructure, specialist foundations and piling.
In the UK, the acquisition of Valmech in November 2025 marked OCU’s entry into the heat networks market.
Following the year end, the acquisitions of Athena Professional Technical Services in the UK and Volta Energy Group in Australia further enhanced the group’s power systems engineering, energy advisory, design, project delivery, and high voltage commissioning capabilities.