Branded snacks firm sees operational profit boost

By Dan Colombini contact

- Last updated on GMT

The firm has seen in an improvement in operating profit
The firm has seen in an improvement in operating profit

Related tags: Finance, Ambient

KP Snacks has posted a rise in operating profit, according to the release of its latest full-year results.

The firm has seen in an improvement in operating profit for the period ending 29 December 2018, rising from £18.53m to £24.8m.

Gross profit margins have remained consistent year on year as price increases and cost savings mitigated the impact of rising commodity prices.

This, alongside fewer one-off costs, has led to the positive rise in operating profit.

Net revenue for the year was also up 9.1% from £346m to £377m partly benefiting from the full-year inclusion of the Butterkist business, acquired in mid-2017.  The volume price of its existing brands also supported this growth.

Overall, the firm announced profit for the period of £13.8m, up from £11.76m the previous year.

Impact of Brexit

As part of KP’s strategic support, it highlighted ongoing work to mitigate the impact of Brexit, with the appointment of a Brexit manager and an increased focus on stock holdings.

Management will continue to monitor the risk levels and take appropriate action where necessary to ensure the company faces minimal disruption​,” the report said.

Meanwhile, earlier this month, the firm announced that it had launched an investigation into its Ashby-de-la-Zouch factory​, which manufactures its Hula Hoops brand, following anonymous hygiene regulations.

Related news

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Follow us

Featured Events

View more

Products

View more

Webinars