Fevara hails significant strategic process and better than expected trading

Fevara, the Carlisle-based international specialist in livestock supplements, expects to report a strong trading period for its year ending August 31, 2026, it said today (September 30).

In a trading update for the period, the group, which changed its name from Carr’s Group last October, hailed “a year of significant milestones and strategic progress”.

The group expects to report a strong performance from continuing operations with revenue expected to be approximately c.£86m (FY25: £78.8m), representing eight per cent like-for-like growth year-on-year, and adjusted EBIT (earnings before interest and tax) expected to be ahead of market expectations, at approximately £6m (FY25: £3.7m), representing c.60% growth year-on-year.

Current market expectations are revenue of £86.3m and adjusted EBIT of £5.5m.

The group’s UK, European and US businesses all performed well, with sales of Low Moisture Blocks delivering continued growth. Brazil performed as expected in the post-acquisition period.

Fevara said it has closed the year with a better than previously anticipated net debt position of c.£2m, due to strong trading cash conversion, alongside the anticipated property disposals and the successful disposal of Chirton Engineering.

During the period, Fevara announced the completion of a new £20m Revolving Credit Facility with HSBC. The facility extends to November 2028 with two further, one year extension periods available.

In addition to the £20m committed facility the agreement covers the availability of a further £10m uncommitted facility over the same period.

This facility has allowed Fevara to complete its acquisitions during financial year 2026, while also providing the headroom for further strategic acquisitions and to support organic growth in line with its growth ambitions. 

The group said it delivered against its stated plan to expand into new growth markets through the acquisition of Macal in December 2025, marking Fevara’s first entry into the strategically significant Brazilian market.

This was supplemented by the acquisition of a high-specification production facility in São Paulo State announced in March 2026. 

Installation of the Low Moisture Block production facility in São Paulo State is in progress, with product launch scheduled from Q4 FY27. The group said it is particularly encouraged by its long term growth opportunities in Brazil. 

In August 2026, the group disposed of Chirton for a consideration of £0.65m with a further £0.2m deferred over two years.

This was the final milestone in Fevara’s resolve to simplify operations, right-size the business, and become a pure play international specialist in livestock supplements. This concluded the strategic review to refocus and streamline the organisation.

The group said though early in the new financial year, trading through the first few weeks of FY27 has been encouraging and in line with expectations.

As the business moves into its peak seasonal trading period, largely driven by volumes in Northern Hemisphere markets, the group said it is pleased with the early progress made.

The focus remains centred on executing strategy, improving operating margins, delivering profitable commercial growth and continuing expansion into new markets.

The progress made to date, and the strategic ambitions in place, leave the business confident in its medium term targets of £120m revenue, £15m adjusted EBITDA (earnings before interest, tax, depreciation and amortisation), an adjusted EBIT Margin of 10% and ROCE (return on capital employed) of 20%.

CEO, Joshua Hoopes, said: “FY26 has been a year of significant strategic progress, and I am delighted by what we have achieved in the second year of delivering our strategic plan, with the group expecting to deliver significant growth in adjusted EBIT, ahead of market expectations.

“Across the business, our teams have worked hard to deliver on all fronts across our strategic pillars as we continue to develop our leading position as an international specialist for livestock supplements.”

He added: “During the year, we have completed a number of significant milestones, including the completion of our strategic refocusing, the delivery of corporate simplification initiatives, further enhancing our portfolio through new product launches and, perhaps most significantly, our entry into the important Brazilian market.

“Against this strong progress, I am confident that Fevara is well positioned to capitalise on the significant growth opportunities ahead.”