DJ VVV Sports Limited: Interim Results for the six months ended 30 June 2026
VVV Sports Limited (PADL)
VVV Sports Limited: Interim Results for the six months ended 30 June 2026
30-Sep-2026 / 15:32 GMT/BST
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VVV Sports Limited
("VVV" or the "Group")
Interim Results for the six months ended 30 June 2026
VVV Sports Limited announces its unaudited interim results for the six months ended 30 June 2026.
OVERVIEW
Chairman's Statement
I am pleased to present the interim results of VVV Sports Limited ("VVV Sports", the "Company" or the "Group") for the
six months ended 30 June 2026.
The first half of 2026 has been a period of significant development for the Group as we have continued to build VVV
Sports into an international sports, media and entertainment business focused initially on the rapidly growing global
racket-sports markets of padel and pickleball.
Our strategy is to build an operating platform that participates across the value chain of these sports, including
venues and infrastructure, court distribution, events and tournaments, teams and leagues, media and broadcasting,
sponsorship, technology, licensing and commercial rights. We believe that this integrated approach provides the Group
with multiple opportunities to create and capture value as these sports continue to expand internationally.
Strategic development
During the period, the Group continued to develop its operating businesses and strategic relationships, while also
progressing a number of initiatives designed to establish VVV Sports as a global platform for the next generation of
racket sports.
The Group's strategy is being implemented through a combination of organic development, strategic acquisitions, joint
ventures and complementary investments where these provide access to attractive markets, intellectual property,
management expertise, distribution networks or commercial opportunities.
The acquisition and development of businesses within the Group has broadened our capabilities and provided a stronger
foundation from which to pursue our international growth strategy. The Group's operating interests now encompass
activities across events, sports management, pickleball and padel, with further opportunities being developed in the
United States, the Middle East and other international markets.
We have also continued to develop the Group's pickleball platform, including the activities associated with TOPSERIES
and the wider Pickleball Pro Events and related businesses. Pickleball represents an important complementary growth
opportunity alongside padel and gives the Group exposure to another rapidly developing global racket sport.
Padel
Padel remains a core pillar of our strategy.
The Group is developing opportunities across the padel ecosystem, including professional and participation events,
infrastructure, court distribution, player pathways, media, sponsorship and commercial rights.
In the United States, we are particularly focused on the significant opportunity presented by the development of padel.
The market is fast growing, and many opportunities exist in the Consumer Brands, Venues and Support businesses to the
industry.
The Group is also developing opportunities in the Middle East, including the potential distribution of padel courts and
related infrastructure, with Abu Dhabi envisaged as an important regional hub for the Group's activities across the
GCC.
Sports, media and entertainment platform
A central element of our strategy is the development of VVV Sports beyond being simply an owner or promoter of
individual sporting assets.
We are building an integrated sports and entertainment platform in which events, athletes, teams, venues, media,
sponsorship and technology can support one another. This model is intended to provide the Group with multiple revenue
streams while allowing us to participate in the growth of the underlying sports at different stages of their
development.
We believe that the long-term opportunity is particularly compelling where VVV Sports can combine ownership and
operation of sporting assets with media rights, sponsorship, digital engagement and commercial partnerships.
The Group is therefore actively evaluating further strategic opportunities which can strengthen this platform and
accelerate its international development.
Capital and funding
During the period, the Group continued to strengthen its capital base and evaluate funding opportunities to support its
growth strategy.
The Company is pursuing access to additional capital to accelerate investment in its existing operating businesses,
support strategic acquisitions and joint ventures, develop its international infrastructure and pursue opportunities in
the United States, Middle East and other key markets.
We remain focused on ensuring that any capital raised is deployed against clearly identifiable opportunities capable of
contributing to the development and long-term value of the Group.
Corporate development
The Board has also continued to strengthen the Group's corporate and financial infrastructure as VVV Sports develops
from its existing platform into a larger international operating business.
The Group has been working to improve management reporting, forecasting, cash controls, financial authority procedures
and subsidiary reporting as part of the continuing development of its governance framework.
These processes are particularly important as the Group expands across multiple jurisdictions and operating businesses
and as we prepare the Company for the next stage of its development.
The Board also continues to assess the potential migration of VVV Sports from the AQSE Growth Market to AIM. We believe
that an AIM listing could provide the Group with a broader institutional investor base, enhanced access to capital and
an appropriate platform for the next phase of the Company's international growth, subject of course to the necessary
regulatory, shareholder and adviser processes.
Financial performance
The financial results for the six months ended 30 June 2026 reflect a Group that is investing in the development of its
operating platform and positioning itself for future growth.
Revenue for the six months ended 30 June 2026 of GBP14,000, compared with GBPNil for the corresponding period when the
group was non-trading.
0perating loss of GBP464,000 compared with operating loss of GBP164,000 in June 2025 due to increase in administration
costs relating to legal and professional fees, public relations costs, staff costs and other administrative costs
compared to the same period in 2025 when costs mainly related to non-trading listing fees.
Cash and cash equivalents at 30 June 2026 of GBP488,000 (30 June 2025: GBP827,000); decrease is in cash reserves is as a
result of investments in the period.
The Board's focus remains on developing sustainable operating revenues while maintaining appropriate control over the
Group's cost base and capital allocation.
Outlook
We enter the second half of 2026 with considerable momentum and a substantially broader platform than at the beginning
of the year.
The global growth of padel and pickleball continues to create opportunities across participation, professional sport,
infrastructure, events, media and commercial partnerships. Our objective is to establish VVV Sports as a leading
independent operator in these markets rather than simply participate in them as a passive investor.
The United States represents a particularly important market for the Group. The combination of our padel and pickleball
activities, collegiate opportunities, professional sport initiatives and commercial relationships provides a platform
from which we believe VVV Sports can build a significant presence in the world's largest sports and entertainment
market.
The Middle East is similarly important, both as a market in its own right and as a potential international hub for the
Group.
We will continue to pursue a disciplined acquisition and partnership strategy, seeking opportunities that add operating
capability, intellectual property, distribution, audiences or commercial rights to the Group.
Conclusion
The first half of 2026 has been an important period in the transformation of VVV Sports.
We have continued to develop our operating businesses, expand our international relationships and build the foundations
of a broader sports, media and entertainment platform.
There remains significant work to do, but the Board believes that the Group is increasingly well positioned to benefit
from the structural growth of padel and pickleball globally.
Our ambition is clear: to build VVV Sports into a leading global operating platform for the next generation of racket
sports, with businesses spanning sport, infrastructure, events, media, technology and entertainment.
I would like to thank our management team, employees, advisers, partners and shareholders for their continued support
as we enter the next phase of the Group's development.
Jonathan Rowland
Chairman
VVV Sports Limited
The interim accounts to 30 June 2026 have not been reviewed by the Company's auditors.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
The Company
Jonathan Rowland
info@vvvsports.pro
+44 (0) 207 469 0936
AQSE Growth Market Corporate Adviser:
AlbR Capital Limited
David Coffman
Unaudited Condensed Group Statement of Comprehensive Income for the six months ended 30 June 2026
6 months to 6 months to Year ended
30 June 30 June 31 December
2026 2025 2025
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
Continuing operations
Revenue 14 - -
Cost of sales (72) - -
Gross loss (58) - -
Administrative costs (406) (153) (366)
Share based payment release - - 65
Expenses settled by issuance of shares - - (13)
Share warrant expense - (11) (11)
Operating loss (464) (164) (325)
Share of loss in associates and joint ventures (83) - -
Other income - - 5
Impairment of investment in subsidiary and related party (312) - (1,991)
Loss before tax (859) (164) (2,311)
Taxation - - -
Loss for the period (859) (164) (2,311)
Other comprehensive income
Translation exchange (loss)/gain - - -
Impairment of investment in joint venture - - -
Total Comprehensive Income for the year attributable to the owners (859) (164) (2,311)
of the parent company
(Loss) per share:
Basic (loss) per share (pence) 2 (0.13) (1.59) (1.49)
Diluted (loss) per share (pence) 2 (0.13) (1.59) (0.91)
Unaudited Condensed Group Statement of Financial Position as at 30 June 2026
Group Group Group
30 June 30 June 31 December
2026 2025 2025
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
ASSETS
Non-current assets
Intangible assets 3,082 350 3,077
Investments accounted for using the equity method 378 1,902 78
IT Equipment 1 - 1
3,461 2,252 3,156
Current assets
Trade and other receivables 219 18 874
Cash and cash equivalents 488 827 96
707 845 970
Total assets 4,168 3,098 4,126
LIABILITIES
Current liabilities
Trade and other payables (201) (2,216) (3,485)
Amounts owed to directors (15) - (30)
Total liabilities (216) (2,216) (3,515)
Net current assets/(liabilities) 491 (2,216) (2,545)
Net Assets 3,952 881 611
EQUITY
Equity attributable to equity holders of the parent
Share capital - - -
Share premium account 8,614 2,473 4,415
Share based payment reserve - 76 -
Share warrant reserve 11 - 11
Retained earnings (4,673) (1,668) (3,815)
Total equity 3,952 881 611
Unaudited Condensed Group Statement of Cash Flows for the six months ended 30 June 2026
Consolidated Consolidated Consolidated
6 months to 6 months to Year to
30 June 30 June
31 December 2025
2026 2025
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Operating loss (464) (164) (325)
Adjustments for:
Share warrant expense - - (54)
Share based payment expense - 11 -
Increase in investments (300) (1,902) -
Issue of shares to settle liabilities - 910 13
Share of loss in associate (83) - -
Impairment of investment in associate (312) - -
Decrease/(increase) in trade and other receivables 655 - (2)
Increase/(decrease) in trade and other payables (299) 1,967 25
Net cash used in operating activities (803) 822 (343)
Investing activities
Loans to subsidiary and related party - - (645)
Investment in associate 250 - -
Payments to acquire investment in associate - - (89)
Payments to acquire intangible assets (5) - -
Net cash outflow in investing activities 245 - (734)
Financing activities
Issue of share capital - - 1,000
Conversion of share warrants 1,200 - -
Issue costs - - (90)
(Repayment of)/receipts from loans (250) - 250
Net cash from financing activities 950 - 1,168
Net change in cash and cash equivalents 392 822 91
Cash and cash equivalents at beginning of period 96 5 5
Cash and cash equivalents at end of period 488 827 96
Notes to the condensed interim financial statements
1. General Information
Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.
These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the United Kingdome with the exception of International Accounting Standard ('IAS') 34 - Interim Financial Reporting. Accordingly, the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company's 2025 annual financial statements.
2. Earnings per share
The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are set out below.
Six months to Six months to Year ended
30 June 30 June 31 December
2026 2025 2025
(Unaudited) (Unaudited) (Audited)
(GBP'000) (GBP'000) (GBP'000)
Net loss attributable to equity holders of the company (859) (164) (2,311)
Number of shares Weighted average number of ordinary Shares for the 685,307,234 10,291,329 154,606,235
purposes of basic loss per share
Basic loss per share (pence) (0.13) (1.59) (1.49)
Diluted loss per share (pence) (0.13) (1.59 (0.91)
3. Events after the reporting date
Effective from 7 September 2026, the Company's Tradeable Instrument Display Mnemonic ('TIDM') on the Aquis Growth Market changed from "VVV" to "PADL".
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Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: VGG9470B1XXX Category Code: IR TIDM: PADL LEI Code: 213800OEUSH43X859D83 Sequence No.: 444975 EQS News ID: 2408178 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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