Leading wholesaler Premier Fruits has returned to profit, something the directors attribute to an “improved performance by the trading team.”
The London-headquartered business recovered from a £55,767 loss in the 2012/13 financial year, to post a pre-tax profit of £795,602 for the year ending 6 April, 2014.
Premier Fruits’ turnover, excluding its share of joint venture companies, was £38.3 million, down from £42.4m the previous financial year, according to accounts filed at Companies House.
Speaking in a statement accompanying the results, director Jason Tanner, said: “The group this year has produced outstanding trading figures, throughout a hard and challenging fresh produce season. Growth hasn’t been achieved within this testing market, although greater margin has been attained.
“Our trading focus has changed within the fresh industry offering, allowing a delivered and direct buying department to flourish, thus achieving a strengthening of our relationship with customers.”
Including its share of JVs, Premier Fruits turnover for the most recent financial year would have been £45m. These JVs include fellow wholesale business Chef Connect, Desiree Produce and Global Fruit, all of which are based in England, plus Societe Rossmark, in France.
Looking forward, Tanner added: “We anticipate another challenging year ahead, growth is expected to be driven by our brand effectiveness, controlling cost management and further investment in our infrastructure and services.
“Premier Fruits’ board is pleased that the many business initiatives laid in place by the management team are now coming to fruition. One of these future endeavours is to acquire Oak Tree Farm with an investment of £1.2m, with a view to further expand the company’s operations within this sector of the business. Given these developments, we believe there is a bright, interesting and profitable future ahead.”
