Faccenda Foods has filed annual results showing a strong performance for the 2013/14 financial year. The results showed year-on-year top line growth of 12% to £520 million and an increase in pre- tax profits to just over £15 million.
This is the first time the business has published its results since the full integration of its turkey operations in April 2014.
Reflecting on the results, Faccenda Foods Managing Director Andy Dawkins said: “We are pleased to report a fourth consecutive year of improvement in both top line growth and financial performance. We knew that continued success this year would be underpinned by leveraging the benefits of running one integrated food business, investing in our supply capability and providing first-to-market innovation for our customers and we believe we have been able to deliver these.”
Following the full integration of the turkey business and creation of Faccenda Foods in April and the success of its ‘Roast in the Bag’ products, Faccenda Foods has just completed a new £35 million processing facility at its Telford site.
Dawkins continued: “Despite a general economic environment that continues to challenge we have been able to generate growth through working closely with our retail and food service partners, growing and succeeding with them.” He was also pleased by results across the group: “Performance has been strong in both chicken and turkey operations and in particular we have been encouraged by the success of our expanding convenience ranges.”
Looking forward Mr. Dawkins commented: “Our strategy of growth in scale, product innovation and trusted delivery has paid dividends for our customers. We remain committed in the next few years to significant investment in farming, manufacturing and most importantly our people, who we firmly believe are key to our long term success as a business.”
He concluded: “Whilst overall these are a very good set of results, the economic environment and market conditions remain demanding and we will continue to focus relentlessly on delivering fantastic service, convenience, innovation and value to the customer. We remain confident that with our strong balance sheet and great people, we can continue to reinvest to grow our business, drive our strategy and build on these results to deliver strong performance in the year ahead.”
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
