Richmond Foods has reported a 33% rise in its pre-tax profit to £14.037 for the year ended September 26, compared to £10,508 a year ago.
The company makes 75% of its sales from the UK’s take-home ice-cream market, and it has recently increased its market share to 33.7%.
Richmond Foods is also confident that successful product launches in 2004, such as the Skinny Cow low-fat ice-cream product, will help to drive organic growth for 2005.
Ross Warburton, chairman of Richmond Foods said: “During the year a further strategic milestone was reached with Richmond becoming a leading manufacturer in the largest and most important sector, the take home market, with a share of 33.7%.
“Whilst we benefited from the incremental sales of De Roma and Oldfield, just as important an achievement was the organic growth from both branded and own-label offerings. In the impulse sector of the market our re-engineering of the supply chain served us well in what was a much tougher year than 2003.”
Over the past year the company increased its share in the premium tub market. The chief executive, James Lambert said: “Our individual ice-cream market share growth resulted from brand launches such as Yorkie and Toffee Crisp ice cream bars, and other products made at the former De Roma site in Wigan.”
The company makes 75% of its sales from the UK’s take-home ice-cream market, and it has recently increased its market share to 33.7%.
Richmond Foods is also confident that successful product launches in 2004, such as the Skinny Cow low-fat ice-cream product, will help to drive organic growth for 2005.
Ross Warburton, chairman of Richmond Foods said: “During the year a further strategic milestone was reached with Richmond becoming a leading manufacturer in the largest and most important sector, the take home market, with a share of 33.7%.
“Whilst we benefited from the incremental sales of De Roma and Oldfield, just as important an achievement was the organic growth from both branded and own-label offerings. In the impulse sector of the market our re-engineering of the supply chain served us well in what was a much tougher year than 2003.”
Over the past year the company increased its share in the premium tub market. The chief executive, James Lambert said: “Our individual ice-cream market share growth resulted from brand launches such as Yorkie and Toffee Crisp ice cream bars, and other products made at the former De Roma site in Wigan.”
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