Plimsoll Publishing has rated Greyfriars UK as a top-five company within the mushroom sector due to its increasing financial strength and above-average sales growth.
Plimsoll judged that almost a third of the UK’s 117 mushroom companies are in financial difficulty. This is well above the national fresh-produce industry average. But over the last three years, Greyfriars has averaged a 15 per cent or greater sales growth, and achieved the best pre-tax profit return on shareholders funds and achieved the best sales return on employees remuneration of any other mushroom grower.
The report also identifies production director Charlie Merson of Greyfriars as a director who had increased sales by five per cent or more every year since appointment and increased the number of employees each year.
Greyfriars’s good results, growth in market share and company growth, come against an industry background of high costs, burgeoning oil prices affecting transport and packing, costly environmental compliance demands, price pressures from retailers and the competitiveness of eastern European producers.
Greyfriars managing director, C. John Smith said: “The UK mushroom industry has decreased in size by approximately 60 per cent in the last five years. However, through continued investment and diversification into lines outside the mushroom industry we have maintained our exceptional service and quality levels, we have managed to evolve and secure diversification opportunities from our main customer.”
Greyfriars has invested more than £800,000 in new office and production facilities over the last two years. Forming part of the company’s diversification strategy into new fresh produce areas, this investment includes an ultra-modern sweetcorn processing line and a new vegetable packing and processing plant near Ripon.
The 18-year old company was Re:fresh Packer of the Year in 2004.
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