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LONDON - S-Ventures PLC, the wellness and consumer brand investment group, reported EBITDA of £0.7 million on gross sales of £15.4 million for the year ended December 31, 2024, according to its annual financial results released Monday.
The company, which focuses on plant-based nutrition and bakery products, achieved net sales of £13.9 million after trade discounts of £1.5 million. Trading margins improved across the group from 45% to 58%.
Since the year-end, S-Ventures has completed a reverse takeover transaction with Tooru PLC (formerly Riverfort Global Opportunities PLC), becoming Tooru’s largest shareholder with a 27.8% stake. As part of this transaction, S-Ventures has settled all its debt instruments either in cash or equity in Tooru.
"We have made progress in what has continued to be a challenging environment. However, we are seeing green shoots and are very excited about new product launches for both Pulsin and Juvela," said Bhanu Choudhrie, Non-Executive Chairman of S-Ventures.
The company’s Juvela bakery business, which produces gluten-free products, generated net turnover of £7.7 million with an EBITDA of £1.9 million. Juvela recently launched a new retail brand called "OAF," described as a "fun, character-led challenger brand" in the gluten-free bread category.
Pulsin, the company’s plant-based nutrition business, reported gross sales of approximately £3.4 million, down from £7.5 million in 2023. The company attributed this reduction to a business review that led to dropping poorly performing customers and product lines while focusing on increasing margins.
The board stated it will investigate methods to potentially distribute the AIM-listed Tooru stock to shareholders while seeking suitable new opportunities for S-Ventures in the coming year.
The financial results were based on a press release statement from the company.
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