QV Foods has reported a further year of strong sales growth with turnover rising by more than 30 per cent.
The Spalding-based company saw turnover for the year to 31 May 2010 reach £113.4 million, up from £86.9m the year before. Pre-tax profit was £2.5m, compared with £3.7m the previous year.
Chairman Duncan Worth said in the directors’ report that there had been growth in both the retail and foodservice arms on the back of a wider offer and a number of new initiatives in the fresh potato category. “We have risen to the challenge of a difficult supply year for fresh produce, consistently delivering to our customer requirements and actively working with them to develop successful growth strategies,” he wrote.
The company would continue to look for opportunities to increase production capacity, develop product lines and add experience to its management team, he said.
Financial director Chris Rimmer added: “Following a stated strategy, the directors are investing in the business, growing capacity and sales while opening up new channels of supply. The current year will show more of the same with continued investment behind growth despite current commodity cycle challenges.”
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