US expansion boosts revenues at Chaucer

By James Ridler contact

- Last updated on GMT

Chaucer boss Andy Ducker said the company's growth was fuelled by expansion into the US and existing markets
Chaucer boss Andy Ducker said the company's growth was fuelled by expansion into the US and existing markets

Related tags: Revenue

Food ingredients manufacturer Chaucer posted a 17% rise in revenues and 20% growth in earnings over the past year, driven by expansion into the US.

Investment into a new freeze-dry facility in Portland, Oregon had helped to increase the company’s capacity in the US, said the manufacturer.

The Hull-based firm said new product innovation in its freeze-dried product offering helped build new contracts in Europe and Asia with a number of food and beverage companies. Chaucer’s bread division also had a strong year.

Chaucer ceo Andy Ducker (pictured) said: “We are very pleased to be able to report strong growth across both revenue and operating EBITDA ​[earnings before interest, tax, depreciation and amortisation], which is testament to the strategy put in place to drive growth across the global addressable market.

‘Strong results’

“It is clear that the investment completed at the end of 2014 has borne fruit and I congratulate the team on delivering such strong results.”

Ducker added the company would continue to focus on expanding its position in new and existing geographies and maintain a “leading position”​ in its markets.

“The market for the group’s products is clear and growing with an evident consumer focus on both natural products and health and wellbeing,” ​said Ducker.

“We look forward to the opportunities that this provides us in the year ahead.”

Specialist food ingredients

Chaucer produces specialist food ingredients and products for food and beverage companies, including: Kellogg, Nestlé, Unilever, Weetabix and PepsiCo.

It manufactures freeze-dried foods such as fruit, vegetables, cheese and yogurt and bread products, including soup and salad croutons.

Headquartered in Hull, Chaucer manufactures in the UK, France, China and US. It has direct sales offices in the UK, France, China, US, Chile and Hong Kong.

Meanwhile, premium ready meals manufacturer Charlie Bigham’s has more than doubled sales revenue in two years,​ after posting a 35% growth in its full-­year financial results to September 30 2016.

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