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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.