Volvere reports higher profit for 2025 on strong Shire Foods trading

(Alliance News) - Volvere PLC on Friday said it is confident of delivering a "robust performance" this year as it reported increased earnings for 2024.

Volvere is based in Leamington Spa, England, and invests in undervalued or distressed businesses. Shire Foods, which is a frozen pastry products manufacturer, is the firm's only current trading subsidiary.

It said pretax profit for continuing operations grew 74% to GBP6.3 million in 2024 from GBP3.6 million a year ago.

Revenue from continuing operations climbed 14% to GBP49.0 million from GBP43.0 million.

Volvere said the results reflect "strong trading" in Shire Foods.

"Whilst 2025 presents its own challenges, principally around higher employment costs and the knock-on effect on supply chain facing similar cost increases, we remain confident about continuing to deliver a robust performance in 2025," said Chair David Buchler.

Volvere added that Shire Foods has recently started to see price increases in key ingredients, particularly red meat.

The firm said it is trying to mitigate cost rises for consumers, but expects food price inflation to be inevitable during 2025.

The board is not recommending the payment of a dividend, in order to retain profits for investment in future opportunities, it said.

Co-Founder and Director Nick Lander said the company is reviewing potential acquisition opportunities across all sectors.

"Whilst no transaction of interest has been identified for further investment, we remain committed and poised to do so for the right proposition," Lander commented.

Shares in Volvere were down 1.9% at 2,030.00 pence in London on Friday morning.

By Michael Hennessey, Alliance News reporter

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