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 £22.2 million from £23.8 million the previous year. Pretax profit falls 76% to £691,000 from £2.9 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 £48.0 million at June 30, up from £43.5 million one year prior, including £30.3 million in cash and available-for-sale investments, down on-year from £32.0 million. Volvere says it has seen "relatively high costs across the board," and expects an estimated £360,000 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".

Looking ahead, Co-Founder & Director Nick Lander comments: "We have traditionally not published forward forecast guidance...However, I think it is worth sharing that Shire's internal revenue target for 2027 shows growth not only over the full year forecast for 2026, but also over that achieved in 2025. As noted above, the impact of costs is harder to predict - but volume is the key driver in the business - and it is for this reason that we continue to be confident in Shire's medium-term outlook."

Current stock price: 2,100.00 pence, down 2.8% on Wednesday in London

12-month change: down 4.1%

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