Volvere plc (AIM: VLE), the growth and turnaround investment company, announces its final results for the year ended 31 December 2019.
Highlights
£ million except where stated | |||
Year ended | Six months ended | ||
31 December 2019 | 31 December 2018 (as restated)
| 30 June (unaudited) 2019 | |
Group revenue |
23.04 |
18.34 |
10.10 |
Group profit/(loss) before tax from continuing operations
Group profit for the period (including discontinued operations) |
0.14
3.18 |
(2.49)
21.10 |
(0.62)
2.45 |
As at 31 |
As at 31 | As at (unaudited) | |
Consolidated net assets per share |
£13.85 |
£12.50 |
£13.56 |
Group net assets | 26.99 | 40.42 | 26.36 |
Cash and marketable securities | 19.32 | 34.14 | 19.65 |
· Good performance from Shire Foods, the Group’s food manufacturing business, which achieved revenue and profit before tax and intra-group management and interest charges(2) of £23.04 million (2018: £18.34 million) and £1.38 million (2018: £0.85 million) respectively. Profit before tax for the year was £1.18 million (2018: £0.65 million).
· Positive exit with the disposal of Sira Defence & Security for £3 million.
· Share buy-backs undertaken in 2019 returned a total of £16.6 million to shareholders.
· Record net assets per share(1) of £13.85.
Forward-looking statements:
This report may contain certain statements about the future outlook for Volvere plc. Although the Directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.
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