FDBusiness.com

Sales Drop But Profits Advance at Baxters Food Group

 Breaking News
  • Florette Further Expands its UK Business In line with its strategy to be a major player within the UK fresh produce category, Florette UK & Ireland (part of the French Agrial group) has acquired the Wigan site of MyFresh Prepared Produce, a producer of a wide range of salad and vegetable products. MyFresh, Wigan, which employs almost 300 people and was [...]...
  • FrieslandCampina Simplifies its Organisation Royal FrieslandCampina intends to simplify its organizational structure into four to be set up global business groups – Consumer Dairy, Specialised Nutrition, Ingredients and Basic Dairy. A less complex structure will enable FrieslandCampina to more decisively respond to the market developments and to innovate better with respect to strategic priorities. The objective of the new [...]...
  • Heineken’s Acquisition of Punch is Cleared The Competition and Markets Authority (CMA) has accepted proposals by Heineken to resolve concerns over its £402.7 million acquisition of Punch Taverns, one of the UK’s largest leased pub companies, with a portfolio of more than 3,500 pubs nationwide. In June, the CMA said that Heineken’s proposed purchase of part of the Punch Taverns estate [...]...
  • Changing Consumer Tastes Drive Long-term Global Sugar Market Slowdown The consumers’ shift away from sugar consumption is an important driver behind significant changes in the food and beverage industry. These changes will have long-term ramifications, including a likely slowdown in the worldwide sugar market, according to the latest report of Rabobank ‘Sweetness and Lite’. A combination of changing preferences, product reformulations and government pressure have [...]...
  • How is the Rise of E-Commerce Changing the Role of Physical Stores? The rise of the internet has allowed retailers to directly connect with consumers from beyond the physical store revolutionising the competitive space more than ever. The world recently saw the acquisition of Amazon and Whole Foods which sent shock waves through the retail industry. This unforeseen merger has put retailers under pressure more than ever [...]...
  • SPX FLOW Appoints Pierre Sbabo as Vice President, Food and Beverage in EMEA SPX FLOW has announced the appointment of Pierre Sbabo as the Vice President of its Food and Beverage business in EMEA. He comes from a strong background in the water and process technology markets with truly international experience. With a Master’s Degree in Marketing and International Business from ESC Chambery, Sbabo has worked for global leaders [...]...

Sales Drop But Profits Advance at Baxters Food Group

Sales Drop But Profits Advance at Baxters Food Group
February 17
13:07 2012

Despite a 2.5% drop in sales to £125.8 million Baxters Food Group increased pre-tax profit by 6.9% to £7.1 million for the year ended May 28th 2011. The drop in turnover is attributable to the UK market where the practice of low margin promotional activity shows no sign of easing, according to Audrey Baxter, chairman of Baxters Food Group. However, the company reported double-digit growth in overseas sales.

“These figures reflect a solid financial performance in a tough economic environment,” comments Audrey Baxter. “We have operated in economic uncertainty for the last two years and we believe this will continue well into the next two years and beyond.”

She adds: “The volatility in demand, cost of operating and uncertainty of supply, make the planning and implementation of good practice in a manufacturing company very challenging. Our strategy is to focus on our core strengths targeting markets well suited to our product portfolio.”

The Scottish food group continues to invest in developing innovative new products. During the year under review it launched the Stay Full range of slow-energy release soups, a full range of luxury chutneys and entered a new category in meat ambient ready meals.

In November 2011, Baxters acquired Fray Bentos for an undisclosed sum from Princes Group. Princes was ordered by the UK Office of Fair Trading to dispose of Fray Bentos, which produces a range of canned pies and puddings as well as corned beef and meatballs, as a condition of its purchase of Premier Foods’ canned grocery operations for £182 million in July 2011.

“The recently completed acquisition of Fray Bentos demonstrates our ability to acquire one of the UK’s best known heritage brands. We are currently considering a number of other options,” says Audrey Baxter.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements