Development in new territories and a brand extension led to potato giant Albert Bartlett increasing its profitability in the most recent financial year.
The Scottish-headquartered firm saw pre-tax profit jump from £9.6 million to £10.2m in the year to 31 May 2014. Perhaps unsurprisingly, given the implications of the poor 2012-13 season – referred to as “the most difficult growing and harvesting conditions seen in over 30 years” – on prices, turnover for the 2013-14 financial year fell by nearly £20m to £146.2m, according to accounts filed at Companies House.
The Albert Bartlett directors noted that this slide was a result of total sales value falling due to reduced prices in the UK, and a change in mix of volume between retail and trading customers. Speaking in the report accompanying the latest set of accounts, finance director Sara Miller called the trading performance “satisfactory”.
“Alongside our branded business, we remain fully committed to the development and success of our exclusive premium varieties and own-label offer.”
Albert Bartlett, which has growing divisions in Scotland, Lincolnshire and Jersey, increased its employee base from 750 to 762 in the 2013-14 financial year.
Capital is being invested quite significantly back into the business, meanwhile, with Albert Bartlett set to build a £60m potato processing factory that will create “hundreds” of jobs. The facility is one of the largest of its kind to have been built in the UK.
Elsewhere, despite UK-generated sales accounting for more than 99 per cent of turnover in the most recent financial year, Miller said Albert Bartlett is looking to broaden its clientele.
She added: “The business continues to work closely with its grower group, and is committed to remaining at the forefront of the fresh potato industry.
“It will continue to grow its business in France, mainland Europe and further afield, and is always looking for opportunities to grow in the UK.”
