Majestic Corporation doubles earnings as steel recycling demand grows

Majestic Corporation reported a pointy rise in first-half earnings and revenue, as sturdy demand for recycled metals lifted the essential minerals city miner’s earnings.

The UK-based recycling specialist, which recovers valuable and non-ferrous metals from end-of-life supplies, stated earnings greater than doubled to $37m within the six months to 30 June, from $18m a 12 months earlier.

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Pre-tax revenue jumped to US$3.3m from US$0.6m, and its gross margin widened to 12.9% from 8.6%, helped by higher metals margins, progress within the UK and robust demand in its printed circuit board companies. Earnings per share rose to 16.1 cents.

If in the present day’s half-year outcomes have been to be annualised, it could worth Majestic at round 10x earnings, with additional earnings-enhancing developments within the pipeline.

The firm used in the present day’s replace to notice that its new 50,000 sq. ft. facility in Wrexham is on observe to succeed in full operational capability by year-end.

Majestic Corporation has beforehand set a goal to course of 100,000 tonnes of supplies per 12 months by 2030. This determine stood at round 30,000 tonnes within the final monetary 12 months.

The firm stated demand for essential minerals remained sturdy, pushed by provide deficits and the rising want for secondary sources, and that it had navigated risky commodity costs and shifts in international steel flows attributable to US tariff coverage.

CEO Peter Lai famous that latest tariff-driven provide bottlenecks have been proscribing entry to sure metals and underscoring the necessity for increased essential minerals recycling charges. This seems to offer structural help for Majestic Corporation’s industry mannequin.

Peter Lai, Chairman and CEO of Majestic Corporation, stated: “I’m delighted with our efficiency within the first half of 2026. Doubling earnings and a considerable uplift in profitability present that the choices now we have taken, specifically in 2024 and 2025, at the moment are paying off, as we stated they might. These outcomes replicate the self-discipline of our whole staff, who delivered them by a risky market and actual exterior strain.”

“Looking forward, Wrexham represents a mannequin — permitted, compliant, and constructed to copy — that offers us a transparent and examined path to scale. Our in-house R&D is now embedding 20 years of proprietary restoration knowledge into our processing development projects, work that can outline how this industry competes for the subsequent decade, not simply the subsequent 12 months. Demand for essential minerals reveals no signal of slowing, and few operators are positioned to fulfill it the way in which we’re: worthwhile in the present day, constructing development projects in the present day, with the intelligence to make each future website smarter than the final.”