Faccenda Group is to embark on a major investment programme at its Telford site in its latest phase of growth following the acquisition of Cranberry Foods last year.
News of the poultry giant’s investment comes as latest results filed at Companies House reveal it posted a 76% increase in profits to £3.5m in the year to 28 April 2012 on sales up 12.3% to £351.4m. Poultry sales had in part been aided by inflation in red meat, the directors said.
MD Andy Dawkins admitted that the market had been challenging over the past year, but claimed good operational performance, efficient supply chain management and excellent customer service had delivered results consistent with expectations. Investment at Telford would “further strengthen our credentials as a leading supplier of fresh food to the UK retail and food service sectors”.
Faccenda’s results compare favourably against Moy Park, which posted an 82.8% fall in pre-tax profits to £4.8m for 2011. 2 Sisters Food Group, however, performed well, posting an 11.9% increase in EBITDA to £190.3m in the year to 28 July 2012.