Business
Results for the period ended 31 December 2025
Vulcan Two Group plc reported a pre-tax loss of £1.22 million for the period ending December 31, 2025, during which it operated as a cash shell following a £12 million AIM IPO in September 2025, ending the period with £9.55 million in cash. Significant progress has been made since year-end, including a £40 million institutional placing in March 2026 and the transformational acquisition of three ePharmacy businesses, CloudRx, Webmed, and Hyperdrug, for up to approximately £41.7 million. These acquired businesses generated combined unaudited revenue of approximately £35.7 million in the 12 months to December 2025, creating a diversified platform. The company has also secured a new distribution centre and implemented an ERP system to support integration and future growth. Disclaimer*
About this update from Vulcan Two Group Plc
[{"type":"text","content":"\n\n21 May 2026\nVulcan Two Group plc\n(the \"Company\", the \"Group\" or \"Vulcan Two\")\n \nAudited Results for the period ended 31 December 2025\nTransformational progress since year end\n \nVulcan Two Group plc, the company aiming to create the UK's leading regulated ePharmacy through buy and build, is pleased to announce its results for the period to 31 December 2025 and to update on progress since year end. The Company was incorporated on 6 August 2025 and accordingly these results relate to the period between 6 August 2025 and 31 December 2025 (the \"Reporting Period\"), during which time the Company was a cash shell.\n \nReporting Period ended 31 December 2025\n \n\n\n\n\n· \n\n\nSuccessful AIM IPO on 3 September 2025 raising £12 million.\n \n\n\n\n\n· \n\n\nDuring the reporting period the Company incurred a pre-tax loss of £1.22 million (pre-revenue)\n \n\n\n\n\n· \n\n\nStrong balance sheet with cash balances of £9.55 million at 31 December 2025.\n \n\n\n\n\nAccounts for the Reporting Period are set out below in full.\n \nPost-Period Trading and Outlook\n \n\n\n\n\n· \n\n\nSuccessful institutional Placing for £40.0 million in March 2026 including support from multiple major UK institutional investors.\n \n\n\n\n\n· \n\n\nCompleted the transformational acquisition of three ePharmacy businesses: CloudRx, Webmed (digital pharmacies) and Hyperdrug (veterinary) on 19 March 2026, for a maximum consideration of up to approximately £41.7 million.\n \n\n\n\n\n· \n\n\nThe Acquisitions:\n\n\n\n\n\n\n\n- \n\n\nachieved combined unaudited revenue of c£35.7 million in the 12 months to 31 December 2025.\n\n\n\n\n\n\n\n- \n\n\ncreated a diversified platform spanning B2B prescription fulfilment and B2C digital pharmacy services\n \n\n\n\n\n· \n\n\nKeith Butcher appointed as Chief Financial Officer, strengthening the Board with significant public markets and M&A experience.\n \n\n\n\n\n· \n\n\nSigned a 10-year lease for new 22,000 sq ft central distribution centre in Leeds,...