Heron Foods has booked an increase in full-year profit as the UK frozen food retailer continued to open stores during 2011.
In the year to the end of December, pre-tax profits rose 15% to GBP8.1m (US$13m), while sales climbed 11.3% to GBP164.9m.
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Operating profit in the period increased to GBP9.5m from GBP8.1m a year earlier.
In a filing with Companies House lats week, the frozen food discounter, which this month acquired Cooltrader from rival Iceland Foods, said it continues to expand its operations into new sites and is “actively managing” its property portfolio to “drive footfall and turnover forward still”.
“The company operates in highly competitive markets in which the business environment will always be challenging,” the company said. “However, by remaining flexible and responsive to market conditions, we remain optimistic about the future.”
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