Produce World has reported a significant rise in profits for 2009 as it focused on cash management amid the recession.
The vegetable supplier posted a 38 per cent increase in pre-tax profits to £4.6 million, up from £3.3m the previous year.
Turnover for the 52 weeks to 26 June 2009 rose by 12.5 per cent to £251m, with an increased focus on vegetables playing well for the group.
Produce World chairman Paul Wilkinson said: “This was achieved through controlling working capital, reducing capital expenditure, sale of non-core assets and deferral of dividend payments.”
Wilkinson said it was focusing on the Marshalls/Agromark business, which “offers significant opportunity for revenue and profit growth”.
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