DIVIDEND
The Board has approved an unchanged interim dividend per share of 1.0p (H1 2024: 1.0p), consistent with its longstanding dividend policy. This will be paid on 1 May 2026 to shareholders on the register as at 21 March 2026. The shares will trade ex-dividend on 20 March 2026.
Other Highlights include:
• As stated in the November 2025 trading update, mixed first half performance with solid performances in Food and Feeds more than offset by a disappointing trading period for Fuels.
• Growth in Food gaining momentum; the Board considers there is a significant opportunity to develop a national network of scale in ambient grocery consolidation.
• Two bolt-on acquisitions within Fuels alongside the national roll out of the Fuels regional operating model.
• Continued strong performance in Feeds.
• Net cash of £0.8 million after £5.5 million of acquisition-related costs reflects good operating cash generation and provides a strong platform for further growth investment.
• The Board's full year trading expectations, which were updated following the November Trading Update, remain unchanged ahead of the seasonally more significant second half.
