Faccenda Sees Sharp Rise in Profits27 January 2014
UK - Faccenda Group, one of the UK’s leading food companies has seen a 50 per cent rise in pre-tax profits to £5 million.
The 2012/13 financial year results showed year-on-year top line growth of £14 million to £365 million.
Faccenda is a vertically integrated poultry focused business providing fresh and convenience food solutions for the UK retail and food service sectors.
Commenting on the results, Faccenda Managing Director Andy Dawkins said: “The general economic environment and fluctuating commodity markets continue to be challenging, but I am pleased by the improvement in both top line growth and bottom line performance for the third consecutive year.
“By working closely with our customers, delivering service excellence and significantly enhancing our product offer we have looked after the consumer and weathered the commodity storm well, while generating the profitability essential for continued long term investment.”
Faccenda is investing in a new processing facility at its Telford site, following significant investment in its factory operations at Brackley and the acquisition of Cranberry Foods Ltd in 2012.
While the results of the turkey business are not yet integrated into the Faccenda results, Mr. Dawkins was quick to highlight its excellent performance.
“The Cranberry operation continues to deliver strong results while also creating a diverse and complementary product mix for our overall food operations.”
Looking forward Mr. Dawkins said: “Our strategy of supply excellence, product innovation and trusted delivery has continued to pay dividends for our customers. However, in order to continue to sustain our improved performance we are committed to long term investment in the UK agriculture and manufacturing sectors, but most of all our people, who we firmly believe are the key to our long term success as a business.
“Whilst overall we are pleased with these results, we are confident that we have the right strategy and people to build on our strong foundations and produce further improvements in year ahead,” he concluded.
TheMeatSite News Desk