Innovative UK salad, herb and vegetable business Watts Farms Group has posted a slight increase in its pre-tax profit despite suffering the effects of a 'challenging' year.
The business – which brought the first UK-grown sweet potato to market towards the end of 2015 – saw turnover increase from £28.6 million in 2013-14 to £32.6m in the year ending 30 September 2015. Pre-tax profit came in at just over £500,000, up by just over £130,000, thanks to 'increased sales and careful cost control'.
Watts Farm Group consists of Watts Farms Sales, Watts Farms Packers, and Watts Farms Catering. The Packers business farms over 600 hectares at 10 sites in Kent, Essex and Bedfordshire, distributing to retailers, wholesalers, processors and packers, while the Catering arm of the company is Watts Farms' foodservice division, which supplies 'over 500 of the best restaurants in the country.'
Speaking in the report accompanying the accounts, director Mike Gray attributed the rise in turnover to an increase in both the number of customers and the variety of products supplied by the group.
He added: 'Overall the directors are satisfied with the group's performance in what has proven to be another challenging year in the agriculture supply and foodservice sectors.
'In the current year, the group is focusing on cost-saving initiatives anticipated to improve profitability, return on capital employed and cashflow. The directors are continuing to invest in crop development, farming techniques and increased automation in the washing and packing process, as well as improved distribution in the catering business.'
Speaking at the time about introducing UK-grown sweet potatoes for sale at Asda stores, Watts Farms director Joe Cottingham said: 'These taste and look exactly the same as those grown overseas, so to have them from home soil is a great feat for us.'
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