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(Sharecast News) - Tooru said on Monday that it had made progress in building its platform over the year following the completion of its reverse takeover in May, as the AIM-traded health and wellness group reported momentum across its core brands and announced a refinancing alongside a board change.
The company, formerly listed as RiverFort Global Opportunities, said it had been settling into its new structure and advancing its flagship brands, with a focus on brand investment alongside cost discipline.
It highlighted retailer wins including Tesco and the Co-op during the year, adding that it intended to continue pushing distribution into 2026.
Juvela, the group's leading branded gluten-free producer, continued to perform well following the launch of its new retail brand, OAF.
Tooru said Tesco sales remained strong and that it was in advanced discussions to list OAF products with other major supermarket chains.
Pulsin, the group's healthy snack bar and nutritional powder brand, had meanwhile seen growing demand from third-party retailers.
The company said Pulsin vacated its Gloucester manufacturing facility in August at the end of its lease and was currently producing through a contract manufacturer, a move that reduced production and overhead costs in the short term.
Tooru said it could continue with the arrangement longer term to support cost control and scalability, while the operations of Pulsin and We Love Purely had now been combined, which was expected to further reduce costs.
Pulsin's revenue recognised in September and October was negatively affected by production disruption, although the group said order levels remained in line with historical trends and that the revenue shortfall was expected to be recovered.
Tooru added that Pulsin continued to generate positive EBITDA and said certain Pulsin bars would now be stocked in around 1,000 Co-op stores, up from 80 previously, which it saw as a key step in supporting growth into 2026.
Separately, Matthew Peck had stepped down from the board with immediate effect, although he would remain a director of Market Rocket while the group explored a possible divestment of the non-core business.
Tooru said it planned to streamline its focus on challenger health and wellness brands, while Market Rocket continued to trade in line with expectations, with the fourth quarter typically its strongest period.
The group said it had also refinanced its debt facility with Shawbrook Bank relating to Juvela.
It said the new facility was increased to 3.9m and extended to the end of 2030, with an additional 0.5m advanced to support the development of the OAF brand.
"We continue to have confidence in the prospects for Juvela and believe that it has significant upside potential," said chief executive Scott Livingston.
"We also believe that Pulsin too has excellent prospects going into 2026.
"The Co-op store count increase for Pulsin and sales growth of OAF demonstrates the progress that the group is making.
"Furthermore, the refinancing of Juvela through the increased Shawbrook Bank facility provides the flexibility to invest further in this business and demonstrates confidence in it by a leading financial institution."
At 1032 GMT, shares in Tooru were up 9.92% at 0.27p.
Reporting by Josh White for Sharecast.com.