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(Sharecast News) - Volvere reported a strong financial performance for the year ended 31 December on Friday, with group revenue from continuing operations rising to 49.04m from 42.95m a year earlier.
Profit before tax from continuing operations increased to 6.34m, up from 3.64m in 2023, while group profit after tax rose to 4.84m.
The AIM-traded company recorded a small loss of 0.02m from discontinued operations, compared with a 0.23m profit in the prior year.
It ended the year with net assets of 41.9m, up from 37.51m, and consolidated net assets per share of 1,720p, compared with 1,483p in 2023.
Cash and available-for-sale investments totalled 27.84m, reflecting strong liquidity and a resilient balance sheet.
Volvere said its food subsidiary, Shire Foods, delivered excellent trading, adding that it was continuing to seek new investment opportunities in food and other sectors.
The group also repurchased 1.51m of its own shares during the year.
"We are very satisfied with the group's performance in 2024, which reflects the strong trading in Shire Foods," said chairman David Buchler.
"Whilst 2025 presents its own challenges, principally around higher employment costs and the knock-on effect on supply chains facing similar cost increases, we remain confident about continuing to deliver a robust performance in 2025."
Buchler said shareholders would have seen "pleasing growth" in the company's share price as its financial performance and asset base became "better and more widely understood".
"We will continue to buy in shares for treasury when we feel it is appropriate to do so, whilst continuing to seek further acquisitions."
At 1201 BST, shares in Volvere were up 3.04% at 2,133p.
Reporting by Josh White for Sharecast.com.