4.2-Sisters-owner-aims-for-Better-before-bigger-as-profits-rise_strict_xxl
March also saw 2 Sisters’ owner Borparan Holdings claimed its “Better before bigger strategy”, is starting to pay off, after posting operating profit up by £26.4M to £22.1M for the 13 weeks to January 30 2016.
Like-for-like operating profit during the second quarter climbed by £27.1M to £22.8M, with like-for-like profit margin up to 2.9%.
Total sales fell by 0.6% to £792M, compared with £797M in the same period of last year.
Like-for-like sales rose by 0.4% from £797M to £800.1M, with further quarter-on-quarter progress reported from £787.9M.
Net debt fell to £687.4M.
2 Sisters Food Group boss Ranjit Singh said: “In this quarter we are seeing signs of our strategy to build a better business starting to deliver.
“I am pleased to report that the progress we experienced in previous quarters continues with improved performances in like-for-like sales and operating profit, despite the fragile grocery market.”
The quarter had seen important successes throughout the business, with “new wins and new product development,” he added.
