Inter Link Foods, the UK’s second largest manufacturer of private label and branded cakes, today (12 January) published first-half earnings which showed record levels of turnover, profits and earnings per share.
Turnover for the period rose by 52% to GBP£67m (US$118m); on a like-for-like basis sales increased by approximately 9%; profit before tax, exceptional costs and the amortisation of goodwill increased by 42% to £3,780,000; and adjusted earnings per share increased by 19% to £0.42.
In an interview with RNS, chairman Alwin Thompson attributed the company’s gains to the consolidation of business interests: “We have focused upon the integration and development of the two businesses that we acquired in the second half of the last financial year – Cukiernia Mistrza Jana (“CMJ”) in North West Poland and the Yorkshire Cottage group of bakeries.”
Thompson also pointed out that Inter Link had attracted new business from competitors, with underlying organic growth of 9%, compared with market growth of around 4.8%. Inter Link’s performance contrasts strongly with market leader RHM, who revealed a 13.1% fall in the first-half turnover of its cakes division.
