Revenues at McVitie’s owner Pladis have surged past £3bn as product innovation and increasing business overseas helped the group to a record year.
The London-headquartered company behind Jaffa Cakes, Go Ahead, Flipz, Godiva and Ülker increased the top line by 17% to £3.2bn in the year ended 31 December 2024.
Pladis attributed the results to double-digit growth in international markets and “strong” consumer demands for its snacks. The group produces one million tonnes of biscuits, cake and chocolate each year for four billion consumers in more than 110 countries.
During the year, Pladis introduced ‘Cola Bottle’ flavoured Jaffa Cakes and a new range of Jacob’s Bites.
Through its Ülker brand in Türkiye, Pladis was also one of the first chocolatiers to bring the viral Dubai chocolate trend to the mainstream, shipping in excess of 3,000 tonnes between August and December 2024.
In line with its strategy to deliver profitable growth, operating profit rose 4% to £344.4m, while EBITDA climbed 11% to £486.9m, bolstered by “strong operational discipline, brand-led growth and capital efficiency”.
“2024 represented another year of strong progress for Pladis as we cement our position as one of the fastest-growing global snacking companies,” said CFO Sridhar Ramamurthy.
“Our iconic brands continue to delight billions of consumers each year, and our focus on innovation means we have the agility to respond to consumer desire for both indulgence and healthier snacking.
“Our performance is testament to the hard work and dedication of our 16,000 colleagues and is a great achievement given the challenging macroeconomic environment, including cocoa price inflation and currency fluctuations.”
Its latest group results follow a recent announcement to invest £68m to bolster its operations in the UK.
Last month, Companies House accounts showed sales in the UK rose 2% to just past £1bn in 2024.
Ramamurthy added: “While maintaining financial discipline, we are investing now to fuel our growth tomorrow, including in digital infrastructure, research and development and brand advertising.
“Looking ahead, we have a clear strategic growth plan which underpins our ambition, enabling us to capitalise on our leading market positions and the unique growth opportunities available to us as we harness the momentum we are building.”
Founded in 2016, Pladis employs 16,000 staff and is currently the fourth largest sweet biscuit maker globally and seventh largest chocolate producer.
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