McCain Foods’ profit defies Brexit uncertainty
The frozen potato products manufacturer, which lodged results for the year ended 30 June at Companies House on 29 March, reported operating profit up 20% on the previous year, from £48m to £57.6m. The company, which is based in Scarborough, Yorkshire, and is part of McCain Foods’ Canada-based global business, grew revenue by 9.7% year-on-year, from £466.2m to £511.6m.
McCain Foods (GB) aims to source 100% of its potatoes from UK farmers, so is insulated from potential food import woes associated with Brexit. However, the company may have a tougher ride this year, as wet weather hit potato harvests last year, with effects set to continue into 2019 according to farm levy board AHDB.
Investment plans
In 2017, McCain Foods (GB) announced plans to invest £100m in renovating its Scarborough factory, with aims to install efficient potato handling and storage equipment and implement environmentally-friendly features including odour-reduction technology.
Speaking at the time, McCain GB & Ireland regional chief executive officer Nick Vermont said: “The investment we are making to renew the facility will secure the continued long-term success of our site here in Eastfield for generations to come, allowing us to meet the increased demand for our products.”
McCain Foods (GB) produces a range of potato products, stretching from a host of different variants of fries and wedges to roast potatoes, croquettes, mash, hash browns, and Potato Smiles aimed at children.
