Explosive growth for Protein Works
Cheshire-based fitness supplements business Protein Works has seen turnover increase by c.40% for the fiscal year ending 31st August.
The Cheshire-based consumer food business posted record revenues of £42.8 million and alongside that milestone also declared record pre-tax profits, which were up 296% on the previous year to £6.5m.
During FY23, Protein Works welcomed over a quarter of a million new customers in the UK alone, showcasing its expanding influence and appeal in the domestic market.
The company has also experienced 68% year-on-year growth internationally.
After further optimising its post-Brexit EU distribution strategy and effectively scaling digital marketing strategies, 34% of turnover now comes from global markets.
Alongside this rate of expansion, the team at Protein Works have also delivered a fifth consecutive year of pre-tax profit growth, achieving £6.5 million in 2023, up from £2.2 million in the previous year.
The business operates across two sites in Cheshire, and runs its own manufacturing and fulfilment operations alongside marketing, brand, tech, data, customer services and supply chain.
The company was originally founded by Mark Coxhead and is led by Laura Keir following a move from MD to CEO in 2023.
“We’re very proud of the remarkable performance Protein Works has delivered in recent years, and of our status as one of the most trusted functional food brands. Our team and brand’s ability to swiftly adapt and innovate in response to consumer needs, coupled with a focus on operational efficiency, data-led thinking and marketing excellence, has driven our success to new heights. The latest numbers are a testament to our incredible community of customers and the dedication and talent of our team. We have a great brand, with a proven legacy of high performance and now exceptional profitability – it makes us very excited for the future,” said Laura Keir, CEO of Protein Works.
