Turnover is up but net profits are down at leading fresh produce suppliers Mack.
The company reported group turnover up more than £22 million at £288,617,000. However while gross profits were up, net profits fell £1.7 million to £3.68m this year.
Christopher Mack, chairman, paid tribute to staff: "The people at Mack have made the remarkable achievement of increasing both our sales and gross profits whilst operating under the incredible pressures of fierce competition and unstable markets.
"Whilst successful this year, we do record a fall in the net profits of the group. This is largely due to our obligation to make good the deficit in our old pension scheme."
Mack said the company's Multiples Division had had a tough year with its customers demanding higher levels of service at lower prices.
"The trend of retailers continuing to reduce the number of suppliers they have does give us sales growth opportunities, but inevitably results in lower levels of profit."
He said the Wholesale Division continued to perform well: "The success continues to prove just what is possible within the independent sector, for many years seen as a declining market."
DGM had also enjoyed a good year, with Mack attributing the success to the hard work supplementing the businesses core strengths and reinforcing relationships with customers.
For the future, he said the company is intending to introduce an all-employee share scheme to allow staff to share in the organisation's success.
He added: "Through testing times, we remain centred on our traditional strengths - 100% focus on fresh produce, our ability to satisfy the demands of our customers, the strength of our supply base and the expertise and dedication of the people that make up Mack."
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