Management reported 57% YoY revenue growth in H1 to £74.5m with adjusted EBITDA of £21.5m (28.9% margin) and reiterated full-year revenue guidance of £140m despite Middle East shipping disruption; net cash was £26.4m and a small whey price rise is planned from April 5.
Construction has begun on a leased global distribution facility (£3.5–4m fit-out) and phase‑3 production expansion (~£2m) to lift capacity toward ~£300m, with revised total CapEx of ~£5.5–6m; the company shelved a £2.5m effervescent line and does not expect dividends or buybacks this year while still considering M&A.
Broad-based channel and product momentum: Latin America sales rose 110% YoY, non‑whey product sales were up 83%, and management highlighted mainstream retail wins (Tesco listing, a licensed range with Morrisons) alongside a strong NPD pipeline targeting wider health‑conscious consumers.
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APN Resources (LON:APN) executives said the company delivered strong first-half FY2026 growth and entered the second half with “great momentum,” while maintaining full-year revenue guidance of £140 million despite shipping disruption tied to the evolving Middle East situation.
Founder and CEO Thomas Ryder was joined on the call by COO Steven Granite and CFO Joe Pollard to discuss operating performance, investment plans, and product development. Management highlighted broad-based channel growth, expanded international reach, and continued emphasis on new product development (NPD) as key drivers of the period.
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Pollard said the business recorded “strong growth during the period,” leading management to increase its FY2026 guidance twice during the first half. Group revenue rose 57% year over year to £74.5 million, which Pollard noted was also 24% higher than the second half of FY2025.
Gross profit and adjusted EBITDA increased by 56% apiece, according to management. Adjusted EBITDA was £21.5 million, with an adjusted EBITDA margin of 28.9%, which Pollard said was in line with performance since the company’s IPO. Earnings per share were 6.2p on both a basic and diluted basis. Net cash at the end of the period was £26.4 million.
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Pollard also said the company expects a more first-half-weighted revenue profile than in prior years, citing a very strong January health, fitness, and well-being trading period that accelerated demand for several H1 product launches.
Read More: APN Resources H1 Earnings Call Highlights
