IN BRIEF: Volvere half-year profit falls but says results "solid"
Volvere PLC - Leamington Spa, England-based investor in undervalued or distressed businesses - Reports results for the first six months of 2026. Group revenue decreases 6.7% to GBP22.2 million from GBP23.8 million the previous year. Pretax profit falls 76% to GBP691,000 from GBP2.9 million. Says it "delivered a solid set of results, notwithstanding the effects of weaker comparable trading in [Shire Foods]". Notes that "virtually all" revenue relates to Shire, Volvere's 80%-owned food manufacturing subsidiary. Group assets total GBP48.0 million at June 30, up from GBP43.5 million one year prior, including GBP30.3 million in cash and available-for-sale investments, down on-year from GBP32.0 million. Volvere says it has seen "relatively high costs across the board," and expects an estimated GBP360,000 per annum impact on profit from changes obliging it to pay for collection of factory waste. It has also "been building inventory in advance of the higher volume winter months." Adds, however, that "we were pleased to be able to maintain our partnership with our largest customer" and that one of its biggest clients "continues to innovate heavily with us...and we have been encouraged by the resulting level of sales." Says the outlook for Shire "remains positive". Read More