Carlisle-based international livestock supplements firm Fevara plc, formerly called Carr’s Group, said its adjusted profit before tax rose 18.8% to £7 million on unchanged revenue of £50.6 million in the six months ended February 28, 2026.
Interim dividend is maintained at 1.2p per share.
“Following the strategic entry in the significant Brazil market in December 2025, early trading has been in line with management’s expectations, and there continues to be the opportunity for material growth opportunities ahead,” said the firm.
Fevara added: “Total revenue was £50.6m (H1 FY25: £50.6m), +2% at constant foreign exchange rate, reflecting continued progress across core markets, with Low Moisture Block (LMB) volume growth of 6% year-on-year, offset by planned reductions in lower margin products in the UK and Ireland …
“UK/Europe fully owned adjusted operating profit increased by 26% to £3.7m (H1 FY25: £3.0m), driven by robust demand for LMB, with core LMB volumes up 9% year-on-year.
“In the US fully owned, adjusted operating profit increased by 5% to £2.7m (H1 FY25: £2.6m). While volumes increased by 4%, as strong demand in southern states offset a weaker performance in northern states which were impacted by highly unusual absence of snowfall through peak season.
“Following increased management focus over the past 18 months, performance across the Group’s Joint Ventures in the US and Germany has materially improved versus FY25, with an 12% increase in profit contribution to the Group’s performance.”
On current trading and outlook, the Carlisle firm said: “The Board does not anticipate any near-term material impact on the business from current geopolitical developments.
“Where possible, Fevara procures and sells using local manufacturing and distribution with contractual cover in place on key raw materials through the end of FY26 which provides resilience against global supply chain disruption.
“As a livestock-focused business, Fevara’s core customer base of beef and sheep farmers have less exposure to fertiliser cost inflation than mainstream agriculture activity such as arable farming and continue to enjoy robust retail meat pricing supporting their profitability.
“Trading since the half year has been encouraging, with continued strong performance in the UK and further margin improvement. The Board is confident in delivering a full year outcome in line with market expectations. “
Fevara CEO Joshua Hoopes said: “I am delighted to report a strong performance in the first half, driven by the UK, and I am pleased with the continued momentum across our core markets.
“Alongside this, we marked our first successful steps into the highly significant Brazilian market, demonstrating the strength and resilience of our core business during a period of strategic investment.
“Post period end, the acquisition of a high-specification production facility in São Paulo establishes a platform which offers compelling long-term growth potential in the world’s largest beef producing country.
“Whilst we are mindful of the current geopolitical environment, our regional based model provides resilience against supply chain disruption. We remain well positioned to continue delivering against our long-term growth strategy and realise significant global market growth opportunities.”