The company reported that turnover had dropped by over £6 million in accounts submitted to Companies House this week, but attributed the fall to a switch in supply.
Turnover was £76.6m in the year to 26 June 2010, down from £83.3m in 2009, while pre-tax profits were largely stable, moving from £3m in 2009 to £2.7m in 2010.
“The reason for Fenmarc’s sales movement year on year is primarily due to its associate company, Puffin Produce Ltd, commencing direct relationships with retailers to supply Welsh produce,” Fenmarc’s MD Richard Anderson told FPJ. “In prior years, Fenmarc has offered admin and sales support to the Puffin business, including managing the customer relationships, but the continued growth and success of Puffin and its management team mean it is now able to work directly with its customers.”
The company said sales remain in line with previous years and the business is expecting to see sales grow in the year ahead.
It has also revealed Fenmarc is to have a new £6m anaerobic digestion plant alongside its potato packing facility due to be completed later this year by sister company Local Generation.
Paice added: “We continue to work with long-term supply partners at driving waste and inefficiencies out of the supply chain to maintain competitive margins… Our exclusive potato variety, Rudolph, is seeing fantastic year-on-year sales growth as we build customer loyalty.”
Results from Fenmarc’s annual trials programme will be showcased later this year at our Innovation Open Day.
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