Tooru plc Reports Trading Progress, Directorate Change, and £3.9M Refinancing Deal

Tooru’s year-end trading update: progress on brands, fresh debt facility, and a board tweak

Tooru plc has delivered a tidy pre year end update that touches on trading momentum, financing, and a directorate change. The headline items: supermarket wins for its brands, a bigger and longer debt facility for Juvela, and a sharper focus on core health and wellness assets.

For context, Tooru completed its RTO in May 2025 (a reverse takeover, where a private business joins the market by buying a listed shell) and has spent the year bedding in the new structure. The tone here is pragmatic – push hard on brand building, keep a lid on costs, and set up for 2026.

Juvela and OAF – supermarket traction plus bank backing

Juvela, the group’s gluten free leader, has launched its new retail brand, OAF, and says TESCO sales remain strong. Management is also in advanced discussions for listings with other major supermarket chains. That matters because retail listings are the oxygen of packaged brands – more shelves, more visibility, more volume.

Crucially, Shawbrook Bank has refinanced Juvela’s facility. The loan is now £3.9 million and runs to the end of 2030, with an extra £500,000 specifically advanced to support OAF’s development. In my view, that signals lender confidence and gives Juvela room to invest behind the OAF rollout.

• Positive: longer tenor to 2030 improves planning and stability.
• Positive: dedicated £500,000 growth capital for OAF.
• Unknown: interest rate, covenants, and security – not disclosed.

The growth story here leans on new supermarket distribution. Advanced discussions do not guarantee listings, but if converted, they could drive meaningful step-ups in sales velocity.

Pulsin and We Love Purely – production reshuffle, short-term wobble, long-term upside

Pulsin, which makes healthy snack bars and nutritional powders, vacated its Gloucester factory in August 2025 at the end of its lease, with a plan to co-locate in Wales alongside Juvela. In the interim, production has switched to a contract manufacturer. That has reduced production and overhead costs in the short term, and the group may keep this model longer term to support scalability and avoid relocation costs.

There was a near-term hit: revenue recognised in September and October was negatively impacted due to production disruption. However, orders continued at historic levels, management expects this revenue to be recovered going forward, and Pulsin still delivered positive EBITDA (earnings before interest, tax, depreciation and amortisation) despite the revenue shortfall.

On the commercial side, certain Pulsin bars will now be stocked in 1,000 Co-op stores, up from 80. That is a material expansion in reach and should support a catch-up in sales as supply normalises. The operations of Pulsin and We Love Purely have also been combined, which is expected to reduce costs further.

• Positive: 1,000-store Co-op roll-out is a meaningful distribution win.
• Positive: cost base trending lower via contract manufacturing and combined ops.
• Risk: execution around supply continuity and whether contract manufacturing preserves margin – not disclosed.

Directorate change and non-core clean-up

Matthew Peck is stepping down from Tooru’s board with immediate effect. He remains a director of Market Rocket for now as the group explores a possible divestment of this non-core, agency-style business. Management’s rationale is clear: streamline focus on challenger brands in health and wellness, rather than run a service agency with different skill sets and priorities.

Market Rocket is trading as expected, with Q4 on track to be its busiest and most profitable period. A disposal could simplify the story and free up management time. Terms, timing, and potential proceeds are not disclosed.

What this means for Tooru shareholders

Overall, this reads like a building year with sensible moves to improve the foundations. Juvela’s OAF is gaining momentum with TESCO and lining up more listings, now backed by a larger, longer-dated facility from Shawbrook Bank. Pulsin’s production reshuffle caused a short-term revenue dip, but orders held up and EBITDA stayed positive. The 1,000-store Co-op push is a clear growth lever for 2026.

The strategy – aggressive brand building with defensive cost discipline – is coming through in several ways: contract manufacturing to scale without heavy capex, combining Pulsin and We Love Purely to take out costs, and shedding a non-core marketing agency. The flipside is that much of the upside depends on converting those advanced supermarket discussions, maintaining supply chain stability, and preserving margins under the contract manufacturing model.

Key gaps: there are no group-level revenue, profit, cash flow or net debt figures in this RNS. Interest costs and covenant headroom on the Shawbrook facility are also not disclosed. Keep that in mind when weighing risk and runway.

Key numbers from the RNS

Item	Detail
RTO completed	May 2025
Juvela – lender	Shawbrook Bank
Refinanced facility	£3.9 million, extended to end of 2030
Additional advance for OAF	£500,000
Pulsin – factory move	Gloucester site vacated August 2025
Pulsin – interim production	Contract manufacturer (reduced costs short term)
Pulsin – revenue impact	September and October recognised revenue negatively impacted
Pulsin – profitability	Positive EBITDA despite revenue shortfall
Co-op store count	Rising from 80 to 1,000 stores

Near-term catalysts and what to watch in 2026

• OAF distribution: conversion of those advanced supermarket discussions into confirmed listings.
• Pulsin supply: evidence that production has normalised and revenue recognition catches up.
• Margin trajectory: how contract manufacturing affects gross margin – not disclosed here.
• Market Rocket outcome: clarity on any divestment, valuation, and use of proceeds.
• Debt detail: interest rate and covenant terms on the £3.9 million facility – not disclosed.
• Group financials: full-year revenue, EBITDA and cash metrics in the next results.

Bottom line

Encouraging strategic progress with concrete retail wins, a supportive refinancing for Juvela, and a tighter brand-led focus. The near-term Pulsin hiccup looks operational rather than demand-driven. If listings land and execution stays tight, 2026 could be an inflection year. The missing piece is fuller financial disclosure to quantify momentum – one for the upcoming results.