Sales grow 50% at The Authentic Food Group
Investment in new production facilities, products and people helped Manchester-based world foods producer The Authentic Food Group deliver record sales in its latest financial year.
The group, which was originally founded by Indian born Kamal Basran OBE in 1985 and today employs 500 staff, reported sales of £73.6m – an increase of 50% – in what it said had been a milestone year.
The company, whose recipes are sold across major supermarkets and thousands of restaurants across the UK and Europe, invested more than £600,000 developing its new 180,000 sq ft site in Dundalk to expand its production and packaging capabilities.
It acquired the manufacturing facility in 2015 from Kraft Heinz alongside a co-pack arrangement to develop the US food giant’s range of ready meals in the UK and Europe.
This, it said, had led to a number of major new contract wins which would continue to drive growth in 2017 and beyond, whilst synergies across its production sites would enable it to achieve cost savings.
The group made a loss before tax of £800,000 in the year ending May 2016, which it said was as a result of its planned investment programme, adding that it had returned to profitability in the final quarter of the year.
It also said profits had improved over the nine months of the current financial year, although trading conditions in the UK grocery sector remained challenging.
As well as manufacturing private label ranges for supermarkets, it produces ranges for third party brands under licence and its own foodservice brand, The Authentic Food Co.
Nik Basran, chief executive of The Authentic Food Group, said: “Over the last two years, we’ve built an infrastructure capable of supporting a £150m plus turnover business, creating significant headroom for further growth. The scope and scale of our production capabilities are now unrivalled, whilst our expertise in taste and recipe development is market-leading.
“Alongside continued investment in product innovation and people, we’re confident in our ability to deliver significant growth in the years ahead as we capitalise on rising demand for authentic, high quality world foods across the UK and Europe.”
Originally known for its Indian ready meals, The Authentic Food Group has expanded its products to include a wide range of world food recipes, snacks and accompaniments as well as health-conscious cuisine.
It has also collaborated with two Michelin starred chef and restaurateur Paul Heathcote to develop a new range of classic British and Italian dishes, and the Yu family, owners of the award-winning restaurants Yu & You and Yu Alderley, to create a brand new range of Chinese recipes.
