FVC advances four businesses, recognizes second-half backlog, driving 2026 revenue toward target

The Federation of Thai Industries, or FTI, has warned the industrial sector to manage two water risks at once: coping with heavy rain and localized flooding in the short term, and ensuring sufficient raw water for the dry season. Prida Watcharienthaisakul, FTI vice chairman and chairman of the Water, Environment and Climate Change Institute, said heavy rain at certain times does not mean every area will have enough water. Data from the Thai Water Resources Information Institute as of September 18, 2026, indicates that from September 18 to 20, 2026, many areas must be on alert for flash floods, forest runoff and waterlogging. Areas at risk from 24-hour accumulated rainfall include Phitsanulok, Chanthaburi, Trat, Nakhon Phanom, Nan, Phrae, Krabi, Chumphon, Trang, Phang Nga, Ranong and Surat Thani. Nationwide accumulated rainfall from January 1 to September 13, 2026, stood at 1,032.6 millimeters, with the eastern South recording rainfall 28 percent below normal, the Central region 18 percent below and the East 13 percent below. Data from the Royal Irrigation Department as of September 18, 2026, shows that 496 large and medium-sized reservoirs held a combined 55,015 million cubic meters, or 72 percent of capacity, with 31,041 million cubic meters of usable water, or 59 percent, which is 4,210 million cubic meters lower than the same period in 2025. The FTI recommends that businesses prepare water management plans at at least three levels: normal conditions, alert conditions and water-scarcity conditions, while accelerating efforts to cut water loss and reuse water. Meanwhile, the FTI's Water, Environment and Climate Change Institute is developing a Water Information & Early Warning system to produce an Industrial Water Risk Map and expand its Water War Room network in line with the FTI's 5I policy, specifically I4 Industrial Infrastructure Reform and I5 Inclusive Sustainability.

Analysts lifted their fair value estimate for Galliford Try Holdings to £7.54 per share from £6.52, citing updated views on risk around future cash flows and the company's scope to deliver on its plans. The revised model keeps the revenue growth assumption unchanged at 4.01% while raising the net profit margin assumption to 2.49% from 2.14%. The future P/E assumption moved to 18.52x from 18.93x, and the discount rate eased to 9.53% from 9.61%. Cautious analysts note the higher fair value still rests on assumptions about cash flow timing and project delivery, warning that any slip in execution could leave the stock exposed if the market has already priced in much of the revised value. The narrative also folds in expansion into energy and capital maintenance markets, particularly water and wastewater treatment, alongside a reentry into the affordable homes market using modern methods of construction.

Crane Company announced a definitive agreement on September 14 to acquire Trillium Flow Technologies' U.S. pump business for approximately $240 million. The operations primarily serve municipal water and wastewater customers and are expected to generate approximately $115 million in full-year revenue, with closing expected in the fourth quarter subject to regulatory approvals and customary conditions. The deal would add the Floway, Wemco, Roto-Jet and WSP brands to Crane's Process Flow Technologies segment, and Crane disclosed a price of approximately 14.6 times estimated 2026 adjusted EBITDA. The announcement did not quantify aftermarket revenue's share of the business, its margins, expected synergies, or integration costs, nor did it specify the funding mix. Process Flow Technologies' second-quarter sales rose 20.9% to $385.6 million while company-defined non-GAAP core sales declined 1.4%, and at June 30 Crane held $350.4 million of cash and $1.098 billion of debt before subsequently repaying another $90 million.