Increased availability of produce has helped Poupart to a healthy increase in turnover.
The group this week reported sales up 6.4 per cent to £295.4m in 2011, accounts filed at Companies House show. Pre-tax profits were £5.4m, compared with £5.7m the previous year.
Net cash flow from operating activities was £4.9m, compared with £3.4m last year, and includes a working capital increase of £1.1m which the company said reflected business growth and tighter liquidity within the supply chain.
Poupart’s Dutch, Spanish and German joint ventures all achieved sales growth in 2011.
“The group continues to trade in a difficult economic and market environment,” director Laurence Olins wrote in the report. “This looks certain to continue for the foreseeable future with the UK economy forecast to continue at low levels of GDP growth and high levels of unemployment in 2012.
“In order to meet this challenge, the group’s business remains competitively well positioned and cash generative and will continue to focus on protecting market positioning and developing product ranges to underwrite the delivery of future sales and profit growth.”
The business has “a strong balance sheet and adequate committed borrowing facilities”, Olins added, which will enable it to continue to invest in capital expenditure and other development opportunities outlined in its strategic plans.
Poupart stressed it had a consistent focus on growing market share within its existing customer portfolio, marketing exclusive varieties, new product development and strengthening relationships with growers.
The company is also committed to CRS and recently unveiled a new group strategy.
