Management report
The Group traded well across its three divisions in 2025. Performance in the second half was ahead of the first, helped by a stronger autumn season and the opening of two new retail partnerships.
Operating review. Group revenue for the year was €410 million, with large retailers the biggest channel, and the three divisions each contributed within a few points of their share in the prior year.
Operating costs were held broadly flat as a share of revenue, and capital spending stayed within the range set at the start of the year.
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