Sales at potato company Albert Bartlett have climbed 18% to GBP146m, but operating profit was again impacted by price pressures in the supply chain.
Strong growth was noted in Albert Bartlett’s frozen food business, which launched in 2015 with the acquisition of a frozen potato processing facility in Norfolk. Initially launching with three lines, this has been doubled to six. In accounts newly filed with Companies House, the Airdrie-based firm said the performance was satisfactory, “given another year of challenging market conditions which continue to put significant pricing pressures on the entire supply chain”, according to heraldscotland.com.
Operating profit in the year to May 31 fell again, to GBP1.8m from GBP2.1m. In the 2015 financial year, operating profit was GBP8m, with last year’s fall partly attributed to start-up costs for its frozen foods business. The pre-tax profit of GBP1.8m was largely because of a GBP1.3m foreign exchange gain on intercompany loans.
Finance director Sara Miller said the company’s strategy would continue to focus on the development of the Albert Bartlett brand, in addition to its premium varieties and supermarket own-label ranges.
“We remain committed to the development of the business and will continue to evolve our product offering to increase efficiency and expands into new areas,” she wrote. “In particular we are focusing on the customer offering within supermarkets’ own label business to increase volumes and improve efficiency.”
