Fresca posts 30 per cent like-for-like profit rise

Fresca Group has posted strong financial results for the year ending April 2008, with profits before tax at £11.5 million on group turnover of £296.6m.

The figures - which exclude turnover from Fresca’s two joint venture businesses, Manor Fresh and MMG Citrus - represent an increase in profits of some 30 per cent on a like-for-like basis. Shareholders’ funds stood at £40.7m on April 25.

Fresca executive chairman Chris Mack said: “Trading during the first part of our financial year has been tough.

“Clearly, we and our growers have been affected by the dramatic increase in energy prices. In addition, the unpredictable weather patterns that are now seemingly the norm have led to a number of crop shortages.

“On top of all this, we have experienced a significant depreciation in the value of sterling against the euro and all of these factors have pushed up the costs of our products.

“Overlying this, the state of the UK economy and the crisis in consumer confidence has meant that there is considerable pressure to do all we can to keep retail prices down. Our challenge is not only to sustain the profitability of our own business but to do so we have to protect that of our customers and growers alike.

“Having said this, Fresca continues to be well placed to weather the economic uncertainty that the UK is now facing. We have a great team, considerable scale and an enviable worldwide supply base… We will continue to focus all our attention on satisfying the needs of our customers and their consumers. This, together with our flexible approach to business, should ensure that we have innovative and appropriate solutions to drive the business forward through these tough times,” Mack said.

Corporate social responsibility (CSR) is also becoming increasingly important to Fresca, he added. “[CSR] is very much a part of the culture of our business and is truly embedded in the way we work.

“I am delighted that in two consecutive months, first Manor Fresh then Mack Multiples were selected as Marks & Spencer’s Plan A Supplier of the Month.”