18 May 2026

Tooru plc

("Tooru" or the "Company" or the "Group")

Trading update

Tooru, an AIM listed company focused on the branded health and wellness sector, is pleased to provide a trading update.

Strong trading momentum and accelerating growth

The Board is pleased to report that we are expecting our operating subsidiaries to deliver a strong EBITDA performance for 2025 compared to the prior year, which is in line with management's expectations.  Importantly, this positive momentum has continued into Q1 of 2026, with our operating businesses generating monthly average gross revenue of around £1 million and EBITDA of £150,000. Going forward, we expect these levels to increase as OAF builds its market presence and Pulsin benefits from increased capital investment and distribution. The Board believes that this performance highlights the strength of the Group's portfolio and provides a solid platform for continued growth.

Juvela and OAF delivering good progress

Juvela is performing as expected with OAF continuing to grow strongly. The brand has now successfully launched with Asda, with initial sales tracking ahead of expectations marking a significant step in expanding its mainstream retail presence.  It is also introducing a number of new product lines into Tesco, including a new line of Softie Sub Rolls. The Board views the OAF brand as a key driver of near-term growth and is excited by the reception from leading retail partners. Furthermore, OAF recently attended the Allergy and Free From Show in Birmingham, generating significant engagement with both consumers and retail partners and further strengthening awareness of the brand.  

Pulsin returning to growth

Pulsin maintains strong representation across its key retail channels, with good shelf availability following a period of consolidation and range optimisation.  With new capital having now been invested to support the brand and a new contract manufacturing arrangement now in place, the brand has returned to growth with increased margins.  The Board is encouraged by Pulsin's progress and believes that the business is well positioned for further expansion.

Potential acquisition of Mylky

Following the signing of terms for the potential acquisition of Mylky, we have been exploring various debt funding structures to effect the acquisition given this company's very strong cash generation characteristics. The terms of this transaction include the issue of Tooru shares at 0.77 pence per share, which we believe better reflects the intrinsic valuation of a business like Tooru compared to the current share price of 0.19 pence, albeit the current valuation reflects the continuing geopolitical turmoil currently prevailing today which has impacted investors' appetite for growth stocks   The Board believes that this acquisition has the potential to add significant scale and earnings capability to the Group and is therefore keen to complete the transaction.

Scott Livingston, CEO, said:

"We are seeing encouraging momentum across the Group, with strong EBITDA delivery, growing revenues and excellent progress from both Juvela and OAF. OAF's expansion into major retailers and Pulsin's return to growth demonstrate the strength of our brands and the opportunities ahead. Going forward, we firmly believe that the Group is well positioned to accelerate growth and continue building value across the portfolio. We remain excited about the opportunities in front of us as we progress through 2026."

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