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.
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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.
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