Aleen Gulvanessian

The board anticipates an adjusted operating profit in line with the market consensus of £19.1 million.

Following a tragic incident at its Pitreavie business, operations are gradually recovering. The group has committed a £1.2m investment in new equipment to accelerate this recovery, aiming to restore full operational capability and create capacity for growth by the end of Q1 2026.

Aleen Gulvanessian, chair of the Group, stated: “We continue to take steps to support the wellbeing of our colleagues at Pitreavie. The management team remains focused on stabilising the Pitreavie business and implementing actions to improve the performance of the Distribution business.”

The Group is also taking strategic steps to position its pension scheme for a possible buy-in. This move aims to reduce future risk and minimise requirements for further cash contributions. Consequently, a non-recurring accounting charge, estimated between £2m and £3m, will be accrued to recognise the increased cost of historic pension equalisation.