Sales at dressings manufacturer BD Foods have jumped as the company focused “heavily” on innovation and food trends.
Turnover amounted to £9m for the nine months to December 2018, compared to sales of £10.1m posted for the year to March 2018.
On a pro-rata basis, the figures implied a 32% rise in revenues from what would have been £7.6m.
BD Foods changed its accounting period to align with that of Swedish multi-national AAK International AB – which snapped up the brand in February 2019 for an undisclosed amount.
Revenues were “confidently expected” to rise to £11.5m at the end of March 2019, BD Foods added, representing a 14% increase year on year.
“Given the stagnation and decline in the food market sector this increase is considered very creditable,” the company added.
It claimed it was able to achieve growth by “concentrating very heavily” on innovation and food trends, launching “right-on-trend products” enabling its clients to satisfy customers’ demand.
BD Foods manufactures and supplies sauces, dressings and dips to hotels, restaurants and wholesalers, including the likes of Bella Italia, Bill’s, Nando’s and Hilton Hotels.
Gross margins during the period reduced to 51% from 54% as the firm chose not to increase prices despite soaring ingredient costs.
Pre-tax profits came in at £454k from £658k, an 8% pro-rata drop.
Looking ahead, BD Foods said it expects profitability to improve “if the innovation strategy is maintained”.
No comments yet