Roebuck Food H1 operating loss widens; CEO transition and GlasPort installs outlook
UK food ingredients and agri-tech investor Roebuck Food said H1 revenue rose 7% year-on-year, but operating loss widened on higher admin expenses and a GlasPort Bio investment, with GlasPort Bio CEO set to become group CEO in October.
Roebuck Food said first-half revenue rose 7% year on year, while the operating loss widened on higher administrative expenses and investment in GlasPort Bio. The company said the CEO transition has been announced, with GlasPort Bio's chief executive set to become group CEO in October. GlasPort Bio expects 40-45 additional installations in H2 2026 across Ireland and Europe. Roebuck said accelerating GlasPort installations will lift cash burn in H2 2026.
The company added that further measures to release capital from its plant-based ingredient division are well advanced for H2 2026. Roebuck said Moorhead & McGavin returned to profitability after restructuring, cost reductions and improved sales and gross margins. GlasPort Bio generated revenue for the first time after GasAbate system installations, but losses widened due to higher administrative expenses, lower grant income and increased R&D investment. Foro's profitability improved despite lower sales, helped by a better mix of higher-margin business.
5 mln. 3 mln GBP, with the figure at 819,000. Analyst coverage noted the stock recently traded at 311 times the next 12-month earnings, compared with a P/E of 324 three months ago. 5% on core brands and acquisitions; Sept 30 - UK's Shepherd Neame FY revenue slips, partly on fall in beer volumes.