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.

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