Krka1h revenue EUR1.05 billion, +6.4% year-on-year

Krka1h revenue EUR1.05 billion, +6.4% year-on-year

VVV Sports Limited (formerly VVV Resources Limited) has released its annual report and consolidated financial statements for the year ended 31 December 2024. The company, which was previously focused on resource investments, has undergone a significant strategic shift towards the sports and media sector, with a particular emphasis on racket sports such as padel tennis, pickleball, and beach tennis, as well as traditional sports like tennis, football, boxing, and motor racing.

Financial Performance

The company reported a loss of £427,000 for the period, compared to a loss of £117,000 in the previous year. This increase in loss was primarily attributed to the impairment of the investment in the parent company’s Australian subsidiary. The company's total revenue for the period was £Nil, reflecting its focus on raising capital rather than generating revenue from its operations. As of 31 December 2024, the company had cash balances of £5,000, down from £36,000 in the previous year. The company does not recommend payment of a dividend in the current year, consistent with its previous policy.

Strategic Shift

In a significant development, the company successfully raised £1,000,000 in April 2025, bringing its cash balances to approximately £826,000 at the end of the half-year period. This capital raise was underwritten by Peterhouse Capital Limited and saw the appointment of Jonathan Rowland as Executive Chairman and Richard Walker-Morecroft as a non-executive Director. The company also changed its name to VVV Sports Limited on 18 June 2025, reflecting its new strategic direction.

The company has indicated that it will be focusing on developing businesses in the sports and media sector, with a particular emphasis on growth sports like padel and pickleball. It plans to divest itself of its resource investments and will update the market as appropriate. However, the company has faced challenges in obtaining financial information and information relating to the licence from its wholly owned Australian subsidiary, which has resulted in a qualified opinion in its audit report.

Outlook

The company has expressed enthusiasm about the opportunities in the sports sector and is working to put the Parent Company at the center of these growth sports. The company has also reserved a new website, www.vvvsports.org, and will provide further updates once it is populated and compliant.

References

[1] VVV Resources Limited: Annual Report and Consolidated Financial Statements for the year ended 31 December 2024. Retrieved from https://www.tradingview.com/news/eqs:38c9a12f4094b:0-vvv-resources-limited-annual-report-and-consolidated-financial-statements-for-the-year-ended-31-december-2024/