Company Interview / IMG bets big on UK growth and remote monitoring

Key points:

Record FY26 result and stronger cash flow underpin Hambling’s growth outlookADT UK acquisition viewed as highly accretive, doubling scale and recurring revenue baseVideo guard and remote monitoring seen as major long-term growth engines

Dennison Hambling, Managing Director of Intelligent Monitoring Group (ASX:IMB) outlines what he describes as a transformational year, with the company delivering record FY26 numbers and significantly stronger cash flow. Hambling attributes the sharp jump in underlying net profit and earnings to both operational improvements and the refinancing of costly mezzanine debt into a senior facility with NAB, alongside the ongoing benefit of tax losses. He views FY26 earnings per share as a solid base as the business prepares to consolidate its UK operations.

The proposed acquisition of ADT UK is set, in Hambling’s view, to roughly double group scale, adding about £87 million of revenue and 160,000 residential customers. He highlights the asset’s 92% recurring revenue, defensive characteristics and purchase multiple of around four times EBITDA as key reasons for targeting the deal now. Funding combines higher‑cost mezzanine-style debt with vendor equity, which he sees as a strong signal of confidence from the seller, a large US corporation.

Hambling sees substantial runway in video guard services, with sites having more than tripled to 1,029 yet still representing only about 1% of the group’s base. He points to a growing commercial security pipeline, global expansion, and rising demand for proactive remote monitoring as core long-term growth drivers, despite recent share price weakness.