The Accounts · daily brief
17 May 2026
Surging sales and a substantial director loan book
The takeaways
- Blue Diamond grew revenue by 20% and widened operating margins nicely
- Innospec's highest-paid director saw a 36% bump on flat overall staff costs
- Remet Group's related-party note details an extensive array of seven-figure director loans
Innospec Limited [1]
Top-line surge
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | EUR 631.9m | EUR 444.5m | ▲ +42% |
| Gross profit | EUR 149.5m | EUR 136.5m | ▲ +10% |
| Admin expenses | EUR 83.9m | EUR 83.2m | ▲ +1% |
| Operating profit | EUR 56.8m | EUR 42.3m | ▲ +34% |
| Finance costs | EUR 37.3m | EUR 5m | ▲ +644% |
| Profit before tax | EUR 110m | EUR 65.7m | ▲ +67% |
| Net profit | EUR 102.8m | EUR 56.3m | ▲ +83% |
| People & pay | |||
| Avg. headcount | 658 | 636 | ▲ +3% |
| Staff cost | EUR 69.3m | EUR 69.1m | ▲ +0% |
| Director pay | EUR 4.8m | EUR 4.4m | ▲ +9% |
| Highest-paid director | EUR 2.2m | EUR 1.6m | ▲ +37% |
Turnover surged 42% to €631.9m, lifting net profit to a solid €102.8m. Staff costs remained broadly flat despite the addition of 22 heads, meaning average pay slipped slightly year-on-year. Remuneration for the highest-paid director saw a 37% bump to €2.23m. A steady set of parent-company numbers, noting a €47k scrap metal transaction with European Metal Recycling.
Blue Diamond Uk Limited [2]
Margin expansion
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £365.4m | £304.8m | ▲ +20% |
| Gross profit | £198.8m | £164.1m | ▲ +21% |
| Admin expenses | £177.5m | £151.8m | ▲ +17% |
| Operating profit | £28.2m | £17.6m | ▲ +60% |
| Finance costs | £6.1m | £6m | ▲ +1% |
| Profit before tax | £22.1m | £11.6m | ▲ +90% |
| Net profit | £15.3m | £8.3m | ▲ +85% |
| People & pay | |||
| Avg. headcount | 4,692 | 4,125 | ▲ +14% |
| Staff cost | £97.6m | £83.3m | ▲ +17% |
Solid consolidated numbers here. A 20% jump in turnover to £365.4m translated to a 60% expansion at the operating level, hitting £28.2m. Average headcount rose by over 500 staff to support the growth. The going-concern position is supported by access to a £100m committed lending facility extending out to 2029.
The Remet Group Limited [3]
Substantial loan book
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £278.8m | £219.7m | ▲ +27% |
| Gross profit | £28.6m | £22.2m | ▲ +29% |
| Admin expenses | £18.8m | £13.8m | ▲ +36% |
| Operating profit | £10m | £8.2m | ▲ +22% |
| Finance costs | £2.6m | £3.4m | ▼ −24% |
| Profit before tax | £10.6m | £7.1m | ▲ +48% |
| Net profit | £7.9m | £5.3m | ▲ +49% |
| People & pay | |||
| Avg. headcount | 182 | 117 | ▲ +56% |
| Staff cost | £11.4m | £8.5m | ▲ +34% |
| Director pay | £2.6m | £3.1m | ▼ −16% |
| Highest-paid director | £1.5m | £1.2m | ▲ +27% |
Turnover climbed 27% to £278.8m, taking operating profit up to £10m. Headcount expanded by 55%, though total director remuneration actually shrank 16%. However, the highest-paid director line still recorded a 26% increase to £1.54m. The notable reading is in the related-party notes, which detail an extensive array of seven-figure loans moving between the company, the wider group, and the directors.
Carl Zeiss Microscopy Limited [4]
Parent-backed
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £94.7m | £96.8m | ▼ −2% |
| Gross profit | £24.5m | £20.5m | ▲ +20% |
| Operating profit | £7.9m | £7.7m | ▲ +3% |
| Finance costs | £21,000 | £21,000 | ▲ −0% |
| Profit before tax | £7.7m | £5.4m | ▲ +41% |
| Net profit | £6.1m | £4.3m | ▲ +44% |
| People & pay | |||
| Avg. headcount | 181 | 187 | ▼ −3% |
| Staff cost | £10.5m | £10.9m | ▼ −4% |
| Director pay | £149k | £357k | ▼ −58% |
| Highest-paid director | £149k | £214k | ▼ −30% |
A quiet, parent-only filing. Turnover slipped 2% to £94.7m, but net profit jumped 42% to £6.1m. Average headcount fell slightly and the boardroom payroll halved. The going-concern note is supported by a cash pool facility and a letter of support from the German parent entity.
Select Technology Sales And Distribution (Uk) Limited [5]
Sparse and shrinking
| Line | FY25 | FY24 | YoY |
|---|---|---|---|
| Profit & loss | |||
| Turnover | £83.7m | £100.9m | ▼ −17% |
| Gross profit | £8.7m | £10.3m | ▼ −15% |
| Admin expenses | £8.4m | £9.8m | ▼ −14% |
A filleted set of accounts with no profit or headcount lines to review. What we can see is a 17% drop in turnover to £83.7m, taking gross profit down with it. Not much meat on this bone.
I'd note the director loans, but I'm too busy looking for the missing profit lines.
Sources
- Innospec Limited
- Blue Diamond Uk Limited
- The Remet Group Limited
- Carl Zeiss Microscopy Limited
- Select Technology Sales And Distribution (Uk) Limited