Importer Wealmoor has predicted its recent investment programme will give it a strong platform for growth and sustainability despite the current pressure on industry margins.

The exotic specialist last week reported turnover for the year to 31 March 2010 was £93.4 million, compared to £120m the previous year, with pre-tax profits of £37,997. Profits after tax rose 38.5 per cent to £931,502.

The company said 2009-10 was a difficult year for the industry as a whole but represented a further step on the road to recovery for its business following a fire in 2007.

“The business has continued with a strong investment programme both here in the UK and at its core sites overseas despite the backdrop of margin pressure,” said commercial director Avnish Malde. “This investment in people, growing and facilities will further underpin its heritage and strategy in providing sustainable sourcing solutions for its customers.”

The directors’ report stressed that the investment programme gave the business a sound footing for the future: “The company has during this period of consolidation continued to secure repeat orders from our satisfied clients and has actively sought to widen its customer base.

“The company has also continued expansion of its activities through England during the period.”

Wealmoor won both the Fresh Direct Overall Produce Trader of the Year and the FPJ-sponsored Importer of the Year Award at the Re:fresh Awards last May, but also suffered the death of founder and chairman Rati Dhanani.

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