UK: Duchy Originals reports loss as sales slump
Waitrose to "more than double" range - Duchy chairman
Duchy Originals, the UK organic food business founded by the Prince of Wales, has booked a loss of over GBP3m (US$4.7m) as sales slumped and the company incurred costs from the sale of its bakery.
In a filing at Companies House, Duchy reported a loss of GBP3.3m for the year to the end of March 2009.
The loss was due in part to just under GBP2m in charges from the subsequent sale of its bakery site in Launceston.
Excluding one-off costs that included the Launceston sale, Duchy booked a loss of GBP1.2m.
Turnover came in at GBP2.2m, against GBP4.1m in Duchy's previous financial year.
In prior years, Duchy handed its profits to the Prince of Wales' Charities Foundations but the loss meant no donation was made this year.
However, chairman Michael Jary said Duchy's tie-up with Waitrose, the upmarket UK retailer, will "significantly increase" the company's donations with investment in the Duchy brand planned.
Waitrose will make, distribute and sell Duchy products in the UK and Jary said the retailer aims to double the Duchy range from 200 products "to around 500".
Jary added: "The agreement is good for the company, good for the Duchy Originals brand, good for Waitrose, good for our consumers and good for charity."
Upmarket UK grocer Waitrose has appointed David Jones as supply chain director....
Clapham House, the owner of the Gourmet Burger Kitchen and Real Greek brands, has launched a range of supermarket burgers....
- What Grexit could mean for the food industry
- just-food's pick: Top trends at Fancy Food Show
- Focus: Can General Mills improve US retail sales?
- How Russia's embargo affects domestic firms
- Focus: ConAgra own-label exit plan is about growth
- Mondelez launches Oreo Thins in US
- Leclerc to contest ruling on supplier payments
- North Castle acquires stake in Sprout
- ABF's Kingsmill returns to Tesco
- UK's first free range milk label launched
- Nestlé SA in Packaged Food: Confectionery, Ice Cream, Sauces, Dressings and Condiments (World)
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- The Sugar Backlash and its Effects on Global Consumer Markets
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: News and Events April 2015