The firm’s latest financial results revealed gross margin had grown to 31.8% from 29.8% in the previous year. However, sales for the company had dipped by 3.1% from £18.6m to £18m for the full year ending 1 October 2017. Pre-tax profit fell 20% to £1.1m from £1.4m.
Increasingly competitive market
Despite the negative financial effects, the Salford-based company felt it had performed well in an increasingly competitive market.
Commenting on the results, Glendale said it had undertaken an “extensive investment programme” throughout its site and its manufacturing operations to maximise future operational effectiveness and efficiencies.
“While market conditions are expected to remain challenging in the present economic climate, the directors remain confident that an effective operating framework is in place to maintain growth and performance in 2018.
“The company also seeks to continue its commitment to the environment via investment to reduce waste and prevent pollution.”
Glendale Foods supplies snacks and processed meat products to retailers, wholesalers and foodservice operators, as well its own brands – The Great British Pudding Company and Yankee Brand.
Established in 1980, the company now has more than 200 employees and has invested £3m in production over the past two years.
In 2016, then current managing director Paul Burkitt and operations director Mark Jones led a successful management buyout of the company for an undisclosed sum.
Meanwhile, poultry processing giant 2 Sisters food Group posted a significant reduction in profit for the third quarter of the year, down 77.4% to £3.1m