Strong international growth for Patak’s
INDIAN foodmaker Patak’s has been fully integrated into Associated British Foods and is contributing to “encouraging” growth.
The multi-national, whose brands range from Sunblest bread to Twinings tea and Ovaltine, acquired the Leigh-based business last year in a deal thought to be worth more than £100m.
In its results for the year to September 13 ABF said the business, now part of its AB World Foods division, is performing well in UK and international markets, particularly Australia and Russia.
Patak’s has been integrated with ABF’s Blue Dragon brand and both are operating with a single UK distribution system and a unified sales force. The business was founded in 1957 and employs around 650 staff in Leigh.
ABF group revenue was up 21% to £8.2bn in the year while pre-tax profit was up 3% to £632m. The group now employs 96,000 people in 44 countries.
The business also owns the discount clothes retailer Primark which enjoyed a strong performance. Like-for-like sales growth was up 21%. Profit rose 17% to £233m.
Chief executive George Weston said: “These good results demonstrate the resilience of the group. Consumer spending in many parts of the world has been under pressure for some months.
“Despite this, grocery, agriculture and Primark all delivered strong sales and profit growth. While faced with a general economic downturn, we remain committed to the group’s expansion and development, most notably in sugar and Primark.”
