frozen specialist Findus Group has posted its second consecutive year of growth as sale rumours have resurfaced.
In an update to bondholders, Findus said it generated EBITDA of £91m for the full year 2014 - a 4% year-on-year increase on a constant currency basis. The business achieved operating cashflow of £67m during the period.
“Paying close attention to our costs, we continue to be focused on serving our customers in each of the countries where we are based,” said chief executive James Hill.
Findus acquired the Lutosa branded retail business in Belgium in February 2014 and is to acquire the La Cocinera frozen ready-to-eat meals business in Spain. “We anticipate more organic growth, within Findus Group, and if similar acquisition opportunities arise then we will explore them,” Hill said.
The full-year trading update comes the week after Sky News claimed Findus was in the early stages of a sale “that will value its UK arm at hundreds of millions.”
Findus insisted “no sale process is under way for the UK business, or any part of Findus Group at this time,” but “long-term options [are] continuously under review.”