The chilled food firm, which makes Ginsters pasties, saw sales grow by 5.8% to £836.9M and pre-tax profit increase by 25% to £41.8M for the year to December 27 2014.
“The business continued to achieve sales growth, gaining additional business with its key customers,” said a financial report, filed with Companies House.
‘Very challenging’ market place
“The market place is very challenging but by working closely with our major customers we will seek out new opportunities in 2015 as a basis for further growth.”
View from the company
“Product innovation and recipe development are fundamental to successfully developing and growing the business.”
- Financial statement from Samworth Brothers
Capital expenditure also increased from £26.8M in 2013 to £47.6M last year, while the company planned to keep investing in its “manufacturing efficiency” and product quality.
“Product innovation and recipe development are fundamental to successfully developing and growing the business and the company invests heavily in its development kitchens, chefs and technical staff to ensure we provide the best fresh and exciting ideas for our customers,” the firm said.
Increase in staff numbers
Staff numbers increased from 7,230 in 2013 to 7,390 in 2014. Last year the firm announced the creation of 370 jobs after opening its Ashton Green factory in Leicestershire.
Over the past three years it has made significant investments at its Walker & Son Charnwood Bakery in Beaumont Leys, Blueberry Foods in Leicester Forest East and Melton Foods in Melton Mowbray.
Meanwhile, Samworth Brothers has entered the sports nutrition sector through the acquisition of the owner of sports nutrition brand SCI-MX.
Key figures for 2014
- Sales up 5.8% to £836.9M (£791.4M in 2013)
- Pre-tax profit up 25% to £41.8M (£33.5M in 2013)
- Capital expenditure up £47.6M (£26.8M in 2013)
- Staff numbers rose to 7,390 (7,230 in 2013)