Food giant hungry for growth after breaking £1bn barrier

Leicestershire-based food giant Samworth Brothers saw its sales break through the £1bn barrier over its last financial year – but profits fell by over £20m to £25m.

The company has put the drop down to costs of raw materials, the acquisition of food-to-go companty West Cornwall Pasty Co and a move to a new supply chain facility in Oak Meadow in Leicester.

In a statement signed off with its financial performance to the end of 2017, Samworth Brothers said: “The marketplace continued to be challenging as we face uncertainty around Brexit and we remain in a period of material cost inflation, but, by working closely with our major customers, we willl seek out new opportunities in 2018 to successfully grow our customers’ own businesses. The directors remain cautious but optimistic with the developments for 2018.

Samworth Brothers employs around 9,000 people in Leicester and the wider county.