Highlights

  • GlasPort Bio recorded first recurring revenues in Q4 FY25 following pilot farm installations.
  • Plant-based ingredients division returned to quarterly sales growth during the second half of 2025.
  • Central plc costs declined materially in FY25 and are set to reduce further in FY26.

Roebuck Food Group plc (LSE:RFG) has released a trading update covering the year ended 31 December 2025, outlining operational developments across its environmental technology and food ingredients divisions, alongside cost reductions at the central plc level. The update reflects a year of transition following the consolidation of GlasPort Bio in February 2025 and challenging market conditions within UK food service.

GlasPort Bio: Progress Toward Commercialisation
GlasPort Bio, consolidated from 7 February 2025, advanced its GasAbate methane reduction technology through multiple operational milestones during the year. A commercial team was established under the leadership of CEO Justin McCarthy, supporting pilot activity and early revenue generation.

Pilot installations were completed on large-scale commercial farms across three countries, in collaboration with established food processors. Installations covered dairy, pig, and beef enterprises, with systems deployed on both indoor and outdoor manure storage facilities. GlasPort Bio generated its first recurring revenues in Q4 FY25.

During the year, GlasPort Bio also delivered a manure-methane abatement MRV (Measurement, Reporting, Verification) system. Independent third-party assurance was obtained from Carbon Trust Assurance, confirming average methane abatement of 78%. Additional non-dilutive grant funding of EUR 1.85m was secured, alongside EUR 0.55m allocated to GlasPort RumenTech.

Plant-Based Ingredients Division: Market Pressures and Stabilisation
Moorhead & McGavin (M&M) and Foro Food Solutions, the group’s wholly owned plant-based ingredients division serving UK and Ireland food service and manufacturing markets, experienced a difficult trading environment in 2025. As previously disclosed at the interim stage, UK food service demand weakened significantly.

Sales declined 23% at the half-year but showed improvement in the second half. Sales grew by 2% in Q3 and 4% in Q4, resulting in a full-year sales decline of 11%. This reflected price deflation of -5.9%, volume decline of -5.6%, and a positive mix impact of 0.5%. Division sales, including Foro, totalled GBP 10.9m, representing a 4.7% decrease from FY24. The division remained EBITDA positive, though profitability was lower year-on-year.

Cost management actions, supplier and customer diversification, and a new contract win with a multinational food manufacturing group were noted. Management continues to assess options regarding the future of this investment.

Central Costs and Reporting Timeline
Central plc costs were significantly reduced during FY25 and are expected to decline further in FY26. Roebuck Food Group plc expects to publish its preliminary results for the year ended 31 December 2025 at the end of March 2025.

Share Performance
RFG traded at GBX 23.00 on January 27, 2026, up 15%.