UK ice cream manufacturer Richmond Foods has reported underlying profit for the year to 29 September of £8.2m (US$12.7m), up 63% from £5m in the previous year.
The rise in profit reflects the impact of Richmond’s acquisition of Nestlé’s UK ice cream business. Richmond is planning to launch new products including Rolo ice cream on a stick and small tubs of Smarties ice cream using the brands it acquired in the Nestlé deal.
Apart from branded ice creams, Richmond also makes own-brand ice creams for some UK supermarkets.
Pre-tax profit was £6.9m, impacted by exceptional costs of £980,000 relating to the Nestlé acquisition together with a £376,000 charge for the company’s long term incentive plan, reported the Financial Times.