Farmfoods thrives as recession lifts frozen

  • Print
  • Share
  • Comment
  • Save

The recession is proving positive for frozen discounter Farmfoods, which this week posted a massive rise in pre-tax profits.

The freezer chain increased its pre-tax profits by 84% to £9.2m in the year ending December 2008, and sales were up 15% to £439m, according to accounts filed at Companies House.

The company has benefited from increased frozen food sales as consumers turn to products they see as offering good value and generating little waste.

Last year, it launched a programme to refresh its look by rebranding some of its 300 stores, replacing the old blue fascia with a verdant farm scene set against a black backdrop. Its intention was to reposition itself as a value family supermarket rather than discounter.

Capex rose 55% in the year to £19.2m, partly as a result of the rebranding, which has now been extended to most of the company’s stores.

Have your say

Please add your comment. Remember that submission of comments is governed by our Terms and Conditions. You can include links, but HTML is not permitted.

Mandatory
Mandatory
Mandatory
Mandatory
  • Print
  • Share
  • Comment
  • Save
Sign in

Newsletter sign-up

I wish to receive the following newsletters:

Subscriber only alerts:

DIRECTORY

The+Grocer+Directory

CLICK HERE to search for the products, services and companies you need in the definitive guide to the UK food and drink industry.

FOLLOW THE GROCER

The Grocer's commentators and opinion makers