REG - Volvere PLC - Trading Update and Notice of Final Results

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RNS Number : 8614W  Volvere PLC  17 March 2026

17 March 2026

Volvere plc

(the "Group" or "Volvere")

Trading Update and Notice of Final Results

Volvere plc (AIM: VLE), the growth and turnaround investment company, is
pleased to provide the following trading update for the financial year ended
31 December 2025.  All data in this announcement is unaudited, although the
comparative information for the year ending 31 December 2024 has been
extracted from audited data for that year.

The Group's 80 per cent. owned frozen pastry products manufacturer, Shire
Foods Limited ("Shire" or "Shire Foods"), was the Group's only trading
subsidiary and, along with the Group's central activities, represents the
Group's continuing operations.

Consolidated Net Assets and Liquidity

The Group expects to report year-end consolidated net assets per share
(excluding non-controlling interests), net assets and cash and available for
sale investments as follows:

 £ million except where stated                As at              As at

31 December 2025

                                                                 31 December 2024
 Consolidated net assets per share            £19.80             £17.20

(excluding non-controlling interests)((1))
 Group net assets                             47.20              41.90
 Cash and available-for-sale investments      33.22              27.84

 

Share buy-backs during the year totalled £0.43 million (2024: £1.51
million).

Note 1: Net assets attributable to owners of the parent company divided by
total number of ordinary shares (less those held in treasury) outstanding at
the reporting date (31 December 2025: 2,189,922, 31 December 2024: 2,208,922).

Financial Performance

 £ million except where stated
                                                  Year ended    Year ended

                                                  31 December   31 December

                                                  2025          2024

 Group revenue - continuing operations            52.70         49.04
 Group profit before tax - continuing operations  6.75          6.34
 (Loss)/profit from discontinued operations       -             (0.02)
 Group profit after tax for the year              5.11          4.84

 

The Group's revenues all related to Shire Foods. Underlying trading is
discussed below, which includes reference to a one-off credit in the year of
£0.40 million in Shire.

Commentary

As we expected, the overall results for the year - driven principally by
trading at Shire Foods - has been pleasing. Group net assets were £47.20
million (2024: £41.90 million), including cash of £28.27 million (2024:
£25.05 million) and available-for-sale investments of £4.95 million (2024:
£2.79 million).

Trading performance at Shire Foods was broadly satisfactory. Shire's
underlying profit before tax, intra-group interest and management charges was
£6.31 million (2024: £6.17 million), stated before a one-off credit relating
to provisions considered no longer required of £0.40 million (2024: £nil),
giving an overall result of £6.71 million.

We started to feel the impact in the second half of 2025 of increasing raw
material and distribution costs. Although this has continued in 2026, we are
continuing to invest in our production capability, with a focus on increasing
productivity, as well as increasing prices. Whilst underlying profitability in
2025 was marginally lower than we would have liked, we think it represents a
good performance in the market in which we operate.

A continuing high oil price is likely to impact Shire's supply chain and we
are monitoring it closely. Our available-for-sale investment has fallen in
value since the year end, reflecting geo-political events and market
volatility, but remains significantly ahead of our purchase cost.
Notwithstanding the current uncertainty in terms of cost inflation and the
potential impact of inflationary pressures on consumers, we remain committed
to our long-term strategy for Shire through a focus on innovation, quality and
efficiency.

We continue to review potential investments and would expect an increase in
distressed businesses, particularly if cost inflation becomes evident and
interest rates are accordingly held or increased. The Group's strong balance
sheet means we are able to respond quickly to anything of interest should it
arise.

 

Nick Lander

Co-founder & Director

 

Notice of Final Results

Volvere expects to announce its full year results for the year ended 31
December 2025 on or around 15 May 2026.

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

For further information:

 Volvere plc

 Nick Lander, Co-founder & Director                 Tel: +44 (0) 1926 335700

 www.volvere.co.uk (http://www.volvere.co.uk)

 Cairn Financial Advisers LLP (Nominated Adviser)   Tel: + 44 (0) 207 213 0880

 Sandy Jamieson, James Caithie

 Canaccord Genuity Limited (Joint Broker)           Tel: + 44 (0) 207 523 8000

 Bobbie Hilliam/Alex Aylen
 Hobart Capital Markets LLP (Joint Broker)

 Lee Richardson                                     Tel: + 44 (0) 207 070 5691

 

 

Notes to editors

Volvere plc (AIM: VLE), is a growth and turnaround investment company. The
Group's sole current trading activity is food manufacturing. The Group
currently employs approximately 270 people.

For further information, please visit www.volvere.co.uk
(http://www.volvere.co.uk) .

Forward-looking statements

This announcement may contain certain statements about the future outlook for
Volvere plc. Although the directors believe their expectations are based on
reasonable assumptions, any statements about future outlook may be influenced
by factors that could cause actual outcomes and results to be materially
different.

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