Trading Update
Summary by AI BETAClose X
Trading Update
Roebuck Food Group plc (AIM:RFG) is pleased to provide the following Trading Update in respect of the year ended 31 December 2025.
GlasPort Bio, which was consolidated from 7 February 2025, has made significant progress and achieved many milestones towards commercialisation of GasAbate during the year;
· Built out a strong commercial team under the leadership of CEO, Justin McCarthy
· Completed pilot installations on large-scale commercial farms in three countries in conjunction with leading food processors. GlasPort Bio now has installations across specialist dairy, pig, and beef enterprises, with the GasAbate system installed on both indoor and outdoor storage facilities
· First recurring revenues generated by GlasPort Bio in Q4 FY25
· Best-in-class manure-methane abatement MRV (Measurement, Reporting, Verification) system designed and delivered
· Third-party Assurance attained from the Carbon Trust Assurance, confirming methane abatement by an average of 78%. Carbon Trust Assurance is the independent assurance arm of the leading global climate consultancy, the Carbon Trust which has 6 offices globally.
· Further non-dilutive grant funding of €1.85m secured (and a further €0.55m for Glasport RumenTech)
Moorhead & McGavin (M&M) / Foro Food Solutions, our wholly-owned plant-based ingredients division which supplies Food Service and Food Manufacturing in the UK and Ireland had a difficult year in 2025. As outlined in our Interim Statement of 30 September 2025, the UK Food Service market was particularly difficult with M&M sales down by 23% at the half year, but showed signs of stabilisation in the second half. We are pleased to confirm that this improving trend continued to year-end.
· M&M sales grew by 2% in Q3 and 4% inQ4, leaving full-year sales down 11%; this comprised price deflation of -5.9%, volume -5.6%, and mix +0.5%
· Division sales including Foro were GBP 10.9m, -4.7% on FY24.
· Division was EBITDA positive in FY25, albeit well down on FY24
· Action taken to manage costs and diversify suppliers and customers, positions the division for sales growth and profit recovery in 2026
· Significant new contract win with leading multinational food manufacturing group
· Management is looking at various options to optimise the value of our investment in this business
Central plc costs were significantly reduced in FY25 and will fall further in FY26.
Preliminary Results for the year ended 31 December 2025 will be published at the end of March 2025.
Enquiries:
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Roebuck Food Group |
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Aidan Hughes, Finance Director |
Telephone: + 44 28 3049 3399 |
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Davy (Nomad) |
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Anthony Farrell |
Telephone: + 353 1 679 6363 |
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