UK ice cream manufacturer Richmond Foods has reported a 28% rise in full-year pretax profits and improved market share.
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Pretax profits before exceptionals climbed from £8.207m to £10.508m (US$18.1m) in the year ended 30 September, on turnover up 9% to £127.2m. EPS grew by 24% to £0.336, reported AFX.
Chairman Ross Warburton described the performance as “another year of impressive growth,” adding: “We look forward to continuing to grow market share over the next 12 months and to make further progress towards our strategic goal of being the UK’s leading ice cream manufacturer by value.”
The company’s performance was boosted by the unusually warm extended summer as well by robust sales in the impulse and take home divisions.
Richmond’s products account for around 27.7% of the core take-home ice cream market, up from 24.8% last year. Its share of the impulse sector rose from 24.6% to 25.1%.
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By GlobalData
