Top-fruit marketing desk Worldwide Fruit Ltd (WFL) has turned a loss into profit on the back of strong sales through supermarket customers.
WFL reported pre-tax profits of £1.5 million for the period from 28 June 2009 to 3 July 2010. In the previous reporting period, from 30 December 2007 to 27 June 2009, it made a pre-tax loss of £95,000.
Turnover was £94.4m in the latest period, a pro-rata increase of 4.3 per cent. Company directors attributed the improvement in fortunes to supplying a broader range of retailers to include all the big four and reported that overall trading with UK retailers had been strong. Most of WFL’s key customers have shown growth of 10 per cent.
“In particular a stronger position on UK fruit has emerged with a number of supermarkets,” the directors said in their report.
Operating margins at WFL also enjoyed a notable increase, of 2.1 per cent compared to 0.7 per cent in the previous period, due to enhanced computer systems able to give live stock positions.
Chief executive Robert Balicki said the company was “very pleased” with the results. Another highlight of the financial year, according to the directors, has been avocado trading and the amalgamation of the Melrow avocado procurement business.
Looking ahead, WFL expects Jazz apples to continue to build as an important part of its business.
