Veg processor and marketer Emmett UK has upped its pre-tax profit and posted another significant growth in turnover, boosted by increased volume demand and promotional activity.
The Spalding-based business recorded a turnover of £52.3 million for the 15-month period from 24 February 2014 to 30 May 2015, compared to a turnover of £34.5m for the 52-week period ending 23 February 2013. Turnover for a comparable 12-month period was £41.8m, an increase of 21 per cent.
On the pre-tax profit front, Emmett increased the figure from £340,000 in the 52 weeks ending 23 February 2014, to £1.1m in the 15-month period ending 30 May 2015 – a 12-month equivalent is £862,00, an increase of nearly 150 per cent.
This acceleration in the size of the company follows on from turnovers of £32.1m in 2012-13, and £28.7m in 2011-12.
Speaking in the report accompanying the accounts, which are held at Companies House, director and ultimate controlling party of the business Colin Bailey said: “Sales growth came from increased volume demand and promotional activity, a reflection of the company’s ability to offer competitive prices and margins to customers. The directors are pleased to report that all orders were satisfied.
“During the year there were two large capital projects investing a further £717,000 in factory production quality and traceability in order to provide customers with a market-leading service and experience. In the next financial year a further £769,000 is planned on being invested in increasing capacity and automation.”
Emmett, which employed 131 people in the period the most recent financial data covers, specialises in leeks, kale, Cavolo Nero, spinach, purple sprouting broccoli and daffodils.
Speaking to FPJ earlier this year, Alex Boughton, sales director at Emmett UK, said that while 2014-15 was by no means “bad” for leeks, “it could have been a lot better.”
Part of the problem was the UK’s mild winter; Boughton believes a colder period from January through to March could have given sales a boost.
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