Turnover up at pizza firm up despite challenging market

A firm which supplies pizzas to the retail sector has seen turnover increase despite the problems facing the high street.

Turnover at Bolton based Stateside Foods rose by £15m to £230m over the last 12 months.

Stateside Foods manufactures branded and own-label chilled pizzas and is part of the Freiberger Group and it currently employs just over 1,000 people.

Despite the rise in turnover pre-tax profits were down slightly from £9.55m to £7.6m.

Stateside said it had been operating in a “challenging environment selling into the retail trade” but added that the performance was in line with expectations.

The firm added that pressures around raw materials and volatility on exchange rates have the potential to “reduce profitability significantly”.

It also noted that the UK market is becoming “ever more price aggressive”.

The firm added: “We will continue to drive costs out of our business in the coming year and are moving along the path of continuous improvement as a way of doing this.

“Improving and expanding its production facilities will give us the additional benefit of being able to grow with our existing customers.

“We can only do this with the continued support and economic strength of our ultimate holding company, which is also a key factor in differentiating us from the rest of the market.”