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Volvere H1 losses narrow on improved Shire Foods performance

Fri, 17th Sep 2021

Growth and turnaround investment company Volvere reported narrower first-half losses as revenue was bolstered by the performance of Shire Foods, its frozen pie and pasty manufacturing business. For the six months ended 30 June 2021, pre-tax losses were narrowed to £0.29 million from £0.97 million year-on-year as revenue increased to £15.72 million from £12.95 million. 'The overall improvement reflects reduced losses at Indulgence, with an improved performance at Shire,' the company said. Shire foods grew revenue by 15.2% to £13.85 million year-on-year, while revenue at Indulge grew to £1.87 million from £0.92 million. 'The group remains in a strong financial position with significant cash reserves and is poised to take advantage of any investment opportunities arising from reducing levels of UK government support schemes,' the company said. Story provided by StockMarketWire.com

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