Volvere

VLE · AIM · Financial Services · mcap £48m · 2250.0p

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Financials · LTM to 30 Jun 26

Source: results 16 Sep 26 ↗

Revenue: £51.1m
Operating profit: £3.7m
Net income: £2.9m
Free cash flow: −£3.7m
Net cash: £24.5m
Market cap: £48.4m
EV / EBIT: 7.6×
FCF yield: −7.7%
Price / book: 1.0×

Latest half-year · H1 26 vs H1 25 results 16 Sep 26 ↗

Revenue: £22.2m
Operating profit: £269k
Net income: £479k
Cash from operations: −£2.7m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures

Income statement Balance sheet Cash flow

Annual Half-yearly

Every line as the company printed it, newest first – each period in the latest version the company published (restated figures where a later report restated them), in its own currency and units. Italic = calculated (H2 = full year − first half). The column headings link to the announcements.

Latest report: H1 26 (six months to 30 Jun 26), published 16 Sep 26 · read the results ↗

	FY 25£'000 source	FY 24£'000 source
Continuing operations
Revenue	52,700	49,040
Cost of sales	(41,363)	(38,364)
Gross profit	11,337	10,676
Distribution costs	(3,323)	(3,078)
Administrative expenses	(2,313)	(2,219)
Operating profit	5,701	5,379
Finance expense	(88)	(100)
Finance income	1,140	1,057
(Loss)/profit on sale of tangible fixed assets	(7)	1
Profit before tax	6,746	6,337
Income tax expense	(1,640)	(1,483)
Profit for the year from continuing operations	5,106	4,854
Loss for the year from discontinued operations	-	(18)
Profit for the year	5,106	4,836
Attributable to
- Equity holders of the parent	4,162	3,967
- Non-controlling interests	944	869
Total attributable to	5,106	4,836
Earnings/(loss) per share
Basic and diluted - from continuing operations - from discontinued operations	177.47p	(0.82)p
Total	188.89p	176.65p

	H1 26£'000 source	H2 25£'000 calc.	H1 25£'000 source
Continuing operations
Revenue	22,198	28,920	23,780
Cost of sales	(18,791)	(22,548)	(18,815)
Gross profit	3,407	6,372	4,965
Distribution costs	(1,983)	(1,848)	(1,475)
Administrative expenses	(1,155)	(1,142)	(1,171)
Operating profit	269	3,382	2,319
Finance expense	(46)	(88)	-
Finance income	501	577	563
(Loss)/profit on sale of tangible fixed assets	(33)	-	(7)
Profit before tax	691	3,871	2,875
Income tax expense	(122)	(947)	(693)
Profit for the period from continuing operations	569	–	2,182
(Loss)/profit for the period from discontinued operations	-	–	-
Profit for the period	569	–	2,182
Attributable to
- Equity holders of the parent	479	2,390	1,772
- Non-controlling interests	90	534	410
Total attributable to	569	2,924	2,182
Earnings/(loss) per share
Basic and Diluted - from continuing operations	21.86p	–	80.30p
- from discontinued operations	-	–	-
Total	21.86p	–	80.30p

	30 Jun 26£'000 source	31 Dec 25£'000 source	31 Dec 24£'000 source
Assets
Non-current assets
Property, plant and equipment	–	7,594	7,698
Property, plant & equipment	8,286	–	–
Total non-current assets	8,286	7,594	7,698
Current assets
Inventories	11,503	6,210	6,235
Trade and other receivables	8,273	12,126	9,123
Cash and cash equivalents	25,041	28,270	25,053
Current asset investments	5,269	4,950	2,789
Total current assets	50,086	51,556	43,200
Total assets	58,372	59,150	50,898
Liabilities
Current liabilities
Loans and other borrowings	(132)	(129)	(98)
Leases	(224)	(224)	(209)
Trade and other payables	(6,535)	(8,508)	(6,249)
Total current liabilities	(6,891)	(8,861)	(6,556)
Non-current liabilities
Loans and other borrowings	(377)	(444)	(573)
Leases	(851)	(480)	(267)
Total non-current liabilities	(1,228)	(924)	(840)
Total liabilities	(8,119)	(9,785)	(7,396)
Provisions - deferred tax	(2,247)	(2,167)	(1,607)
NET ASSETS	48,006	47,198	41,895
Equity
Share capital	50	50	50
Share premium account	7,885	7,885	7,885
Revaluation reserves	949	949	947
Retained earnings	35,195	34,477	29,122
Capital and reserves attributable to equity holders of the Company	44,079	43,361	38,004
Non-controlling interests	3,927	3,837	3,891
TOTAL EQUITY	48,006	47,198	41,895

	30 Jun 26£'000 source	31 Dec 25£'000 source	30 Jun 25£'000 source	31 Dec 24£'000 source
Assets
Non-current assets
Property, plant and equipment	–	7,594	–	7,698
Property, plant & equipment	8,286	–	7,796	–
Total non-current assets	8,286	7,594	7,796	7,698
Current assets
Inventories	11,503	6,210	6,038	6,235
Trade and other receivables	8,273	12,126	7,459	9,123
Cash and cash equivalents	25,041	28,270	28,523	25,053
Current asset investments	5,269	4,950	3,508	2,789
Total current assets	50,086	51,556	45,528	43,200
Total assets	58,372	59,150	53,324	50,898
Liabilities
Current liabilities
Loans and other borrowings	(132)	(129)	(124)	(98)
Leases	(224)	(224)	(137)	(209)
Trade and other payables	(6,535)	(8,508)	(7,016)	(6,249)
Total current liabilities	(6,891)	(8,861)	(7,277)	(6,556)
Non-current liabilities
Loans and other borrowings	(377)	(444)	(507)	(573)
Leases	(851)	(480)	(232)	(267)
Total non-current liabilities	(1,228)	(924)	(739)	(840)
Total liabilities	(8,119)	(9,785)	(8,016)	(7,396)
Provisions - deferred tax	(2,247)	(2,167)	(1,787)	(1,607)
NET ASSETS	48,006	47,198	43,521	41,895
Equity
Share capital	50	50	50	50
Share premium account	7,885	7,885	7,885	7,885
Revaluation reserves	949	949	947	947
Retained earnings	35,195	34,477	31,338	29,122
Capital and reserves attributable to equity holders of the Company	44,079	43,361	40,220	38,004
Non-controlling interests	3,927	3,837	3,301	3,891
TOTAL EQUITY	48,006	47,198	43,521	41,895

	FY 25 source	FY 24 source
Profit for the year	5,106	4,836
Adjustments for
Finance expense	88	100
Finance income	(1,140)	(1,057)
Depreciation	1,169	1,124
Operating lease rentals	(8)	(11)
Income tax expense	1,640	1,483
Loss/(gain) on disposal of fixed assets	7	(1)
Loss/(gain) from discontinued operations	-	18
Total adjustments for	1,756	1,656
Operating cash flows before movements in working capital	6,862	6,492
(Increase)/decrease in trade and other receivables	(4,835)	407
Increase in trade and other payables	4,074	147
Increase in inventories	25	(310)
Operating cash generated from continuing operations	6,126	6,736
Operating cash flows used by discontinued operations	-	(270)
Corporation tax paid	(1,606)	(1,739)
Net cash generated from operations	4,520	4,727
Investing activities
Interest received	1,052	972
Income from investments	88	85
Purchase of property, plant and equipment	(619)	(599)
Sale of property, plant, equipment	10	1
Cash generated from continuing investing activities	531	459
Net cash generated from investing activities	531	459
Financing activities
Interest paid	(87)	(98)
Purchase of own shares (treasury shares)	(428)	(1,512)
Dividends paid	(990)	-
Net (repayment) of borrowings	(329)	(662)
Cash used by continuing financing activities	(1,834)	(2,272)
Net cash used by financing activities	(1,834)	(2,272)
Net increase in cash	3,217	2,914
Cash at beginning of year	25,053	22,139
Cash at end of year	28,270	25,053

	H1 26 source	H2 25 calc.	H1 25 source
Profit for the period	569	–	2,182
Adjustments for
Finance expense	46	88	-
Finance income	(501)	(577)	(563)
Depreciation	615	607	562
Operating lease rentals	-	(4)	(4)
Income tax expense	122	947	693
Loss on disposal of fixed assets	33	–	7
Foreign exchange gain	(10)	–	-
Total adjustments for	305	1,061	695
Operating cash flows before movements in working capital	874	3,985	2,877
Decrease/(increase) in trade and other receivables	4,278	(6,632)	1,797
(Decrease)/increase in trade and other payables	(1,974)	3,371	703
(Increase)/decrease in inventories	(5,293)	–	197
Net movements in working capital	(2,989)	–	2,697
Operating cash generated from continuing operations	(2,115)	552	5,574
Corporation tax paid	(547)	(848)	(758)
Net cash (used by)/generated from operations	(2,662)	–	4,816
Investing activities
Interest received	485	537	515
Income from investments	58	31	57
Purchase of property, plant and equipment	(835)	56	(675)
Sale of property, plant and equipment	11	–	10
Cash (used by)/generated from continuing investing activities	(281)	–	(93)
Net cash generated from/(used by) investing activities	(281)	–	(93)
Financing activities
Interest paid	(88)	(87)	-
Purchase of own shares (treasury shares)	-	(333)	(95)
Dividend paid to non-controlling interests	-	–	(990)
Net repayment of borrowings	(198)	(161)	(168)
Cash used by continuing financing activities	(286)	(581)	(1,253)
Net cash used by financing activities	(286)	(581)	(1,253)
Net (decrease)/increase in cash	(3,229)	(253)	3,470
Cash at beginning of period	28,270	–	25,053
Cash at end of period	25,041	–	28,523
1 Financial information and basis of accounting
2 Significant accounting policies
3 Operating segments
Analysis by business segment
Revenue	22,194	–	3
Profit before tax	696	–	(5)
Revenue	23,780	–	-
Profit before tax	2,869	–	6
Revenue	52,700	–	-
Profit before tax	6,711	–	35
As at 30 June 2026
Food manufacturing £'000 Investing and management services £'000 Total £'000
Assets	28,593	–	29,779
Liabilities/provisions	(9,323)	–	(1,043)
Net assets	19,270	–	28,736
Assets	25,342	–	27,982
Liabilities/provisions	(9,191)	–	(612)
Net assets	16,151	–	27,370
Assets	29,799	–	29,351
Liabilities/provisions	(10,976)	–	(976)
Net assets	18,823	–	28,375
Capital spend	1,340	–	-
Depreciation	614	–	1
Interest income (non-Group)	(36)	–	(407)
Interest expense (non-Group)	46	–	-
Tax expense	122	–	-
Capital spend	675	–	-
Depreciation	562	–	-
Interest income (non-Group)	(64)	–	(442)
Interest expense (non-Group)	-	–	-
Tax expense	693	–	-
Capital spend	1,077	–	4
Depreciation	1,169	–	-
Interest income (non-Group)	(159)	–	(893)
Interest expense (non-Group)	59	–	-
Tax expense	1,643	–	(3)
£'000 £'000 £'000 £'000 £'000 £'000
UK	8,286	–	7,796
Rest of Europe	-	–	-
USA	-	–	-
Total £'000 £'000 £'000 £'000 £'000 £'000	8,286	–	7,796
Notes
(1) stated before intra-group interest and management charges
(2) assets and liabilities stated excluding intra-group balances
4 Investment revenues, other gains and losses and finance income and expense
Bank interest receivable	443	–	506
Investment revenues	58	–	57
Other gains and losses	-	–	-
Total 4 Investment revenues, other gains and losses and finance income and expense	501	–	563
Bank interest payable	-	–	-
Lease interest	(31)	–	-
Other interest and finance charges	(15)	–	-
Total 4 Investment revenues, other gains and losses and finance income and expense	(46)	–	-

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	51.1	52.7	49.0
Gross profit	9.8	11.3	10.7
Operating profit	3.7	5.7	5.4
Depreciation (owned assets)	–	1.2	1.1
Operating profit to net income
Finance costs	(0.1)	(0.1)	(0.1)
Profit before tax	4.6	6.7	6.3
Tax	(1.1)	(1.6)	(1.5)
Net income (owners)	2.9	4.2	4.0
Discontinued operations	–	0.0	(0.0)
Per share
EPS basic	130.4p	188.9p	176.7p
EPS diluted	130.4p	188.9p	176.7p

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	22.2	−7%	28.9	23.8
Gross profit	3.4	−31%	6.4	5.0
Operating profit	0.3	−88%	3.4	2.3
Operating profit to net income
Finance costs	(0.0)	n/m	(0.1)	0.0
Profit before tax	0.7	−76%	3.9	2.9
Tax	(0.1)	−82%	(0.9)	(0.7)
Net income (owners)	0.5	−73%	2.4	1.8
Per share
EPS basic	21.9p	–	108.6p	80.3p
EPS diluted	21.9p	–	108.6p	80.3p

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(3.0)	4.5	4.7
Interest paid	(0.2)	(0.1)	(0.1)
Tax paid	(1.4)	(1.6)	(1.7)
Investing activities
Capex (PP&E)	(0.8)	(0.6)	(0.6)
Financing activities
Dividends paid	–	(1.0)	0.0
Share buybacks	(0.3)	(0.4)	(1.5)

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(2.7)	n/m	(0.3)	4.8
Interest paid	(0.1)	n/m	(0.1)	0.0
Tax paid	(0.5)	−28%	(0.8)	(0.8)
Investing activities
Capex (PP&E)	(0.8)	+24%	0.1	(0.7)
Financing activities
Share buybacks	0.0	n/m	(0.3)	(0.1)

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Property, plant & equipment	8.3	7.6	7.7
Other investments	5.3	5.0	2.8
Non-current assets	8.3	7.6	7.7
Current assets
Inventories	11.5	6.2	6.2
Trade receivables	8.3	12.1	9.1
Cash	25.0	28.3	25.1
Current assets	50.1	51.6	43.2
Total assets	58.4	59.1	50.9
Current liabilities
Trade payables	6.5	8.5	6.2
Borrowings, current	0.1	0.1	0.1
Lease liabilities, current	0.2	0.2	0.2
Current liabilities	6.9	8.9	6.6
Non-current liabilities
Borrowings, non-current	0.4	0.4	0.6
Lease liabilities, non-current	0.9	0.5	0.3
Non-current liabilities	1.2	0.9	0.8
Total liabilities	8.1	9.8	7.4
Equity
Non-controlling interests	3.9	3.8	3.9
Total equity	48.0	47.2	41.9

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Property, plant & equipment	8.3	7.6	7.8	7.7
Other investments	5.3	5.0	3.5	2.8
Non-current assets	8.3	7.6	7.8	7.7
Current assets
Inventories	11.5	6.2	6.0	6.2
Trade receivables	8.3	12.1	7.5	9.1
Cash	25.0	28.3	28.5	25.1
Current assets	50.1	51.6	45.5	43.2
Total assets	58.4	59.1	53.3	50.9
Current liabilities
Trade payables	6.5	8.5	7.0	6.2
Borrowings, current	0.1	0.1	0.1	0.1
Lease liabilities, current	0.2	0.2	0.1	0.2
Current liabilities	6.9	8.9	7.3	6.6
Non-current liabilities
Borrowings, non-current	0.4	0.4	0.5	0.6
Lease liabilities, non-current	0.9	0.5	0.2	0.3
Non-current liabilities	1.2	0.9	0.7	0.8
Total liabilities	8.1	9.8	8.0	7.4
Equity
Non-controlling interests	3.9	3.8	3.3	3.9
Total equity	48.0	47.2	43.5	41.9

Read automatically from each results announcement. Check the source before relying on a figure.

Company filings. Not investment advice.