UK ice cream maker Richmond Foods has reported small falls in turnover and pre-tax profits fro the 26 weeks ended 27 March 2005, but said that profit would have risen were it not for deferred impuluse sales and losses at a site acquired last year.
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Turnover was £50.8m (US$95.9m), compared with £51.6m in the equivalent period a year earlier, whle pre-tax profit was £1.86m compared with £2.1m a year earlier.
However, the company said that gross profits improved from £12.2m to £12.8m reflecting a 1.5% rise in margins. Following a change in stockholding policy for its major impulse customer, approximately £2.0m of sales have been deferred until the second half. “Our performance was also achieved despite an additional four months of winter losses, compared to last year, from our Wigan site which was acquired in February 2004,” it said. “Excluding the impact of deferred impulse sales and additional losses at Wigan, profits would have increased by approximately £800,000.”
“We will continue to focus on driving organic growth, particularly with the Skinny Cow brand,” said chairman Ross Warburton.
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