Pre-tax profits have dipped at Bart Ingredients by more than £170,000 to £377,000 as the herbs and spices supplier laid out “significant” investment in a bid for future growth.
The capital ploughed into infrastructure in 2014 - which has given it the ability to tender for larger customer contracts - is starting to pay off, according to the business review in the newly filed accounts at Companies House. Bart has secured new business with key customers in the 2014/15 financial year, as it aims to achieve “double-digit profitable sales growth.”
The group also obtained first orders for exports to new countries and entered UK foodservice with new branded products.
Sales in the year to 31 March 2014 declined by 6% to £14.6m, largely as a result of a one-off initiative in the previous year to help a key customer. However, turnover from across Europe and the rest of the world climbed by more than £200,000 to £662,000.
The directors said Bart continued to outperform other mainstream UK herb and spice brands.
Since the year end, the business has broken into non-dry herbs and spices with the acquisition of OTP Foods in April.