2 Sisters reveals results and future plans
Boparan Holdings Limited, the parent company for 2 Sisters Food Group, has announced its consolidated results for the 13 weeks ending 31st October 2015. Year on year total sales have dropped from £806.7m to £778.3m, a 3.3% decrease.
Despite the sales and profit drop, the future appears to look bright for the company. In particular the Branded division has continued to perform well.
The company says it has also continued to cement a strong position with leading customers by offering them new products such as wings, which utilises more of the chicken, as well as securing major business wins in poultry and in red meat with new customers.
Additionally, a focus on improving efficiency, product taste and driving innovation across the Chilled division is a strategy that according to a press statement is starting to pay off, evidenced by three awards won at the Quality Food Awards for pizzas. The business has confirmed that it has plans to launch over 100 new chilled products over the coming financial year.
Ranjit Singh, the CEO of 2 Sisters Food Group commented: “The progress we experienced in Q4 continues in the first quarter as we continue to meet our objective of building a better business. Our focus on costs, efficiency, investment, innovation and deepening customer relationships remain paramount. With the progress we saw in the fourth quarter continuing, we expect to see our hard work bearing fruit as the year progresses.”
2 Sisters’ has noted that investment in tackling the campylobacter superbug had also produced positive results. Singh added: “The measures we introduced to reduce campylobacter in poultry, in conjunction with our customers, have been recognised not only by industry awards and through positive feedback from media and key commentators, but also by the Food Standards Agency which pointed to ‘significant’ progress in its recent quarterly review.
“We have the right strategy, a relentless commitment to great food, innovation and efficiency, and are building great relationships with both our major suppliers and customers.”