Warm glow as frozen food firm has record year

HARRY Yearsley, the family-owned frozen food storage, logistics and wholesale company, has reported record profits, despite what it described as “a very challenging” trading environment.

Turnover in the year to March 28 2015 climbed from £172m to £188.5m, while operating profits increased  from £4.5m to £5m, Net assets grew from  £25.7m to £29.2m.

Based in Heywood, near Rochdale, Yearsley celebrated its 60th year in business last July. Its logistics business has 13 depots nationwide including what it calls ‘superhubs’ in Heywood and  Hams Hall in the Midlands.

 Last autumn it announced plans to invest £15m in its Newark site in Nottinghamshire to upgrade its exisiting facility to its first superhub dedicated to the food service sector.

Both the company’s divisions grew 9% in the year.  Revenues in its cold storage and distribution arm grew from £69.9m to £76.5m.

In its frozen food division, which owns the Belfield and IcePak brands, sales grew from £102m to £111.9m. All but £4.7m of turnover was generated in the UK.

In a business review in newly-filed accounts for the company, finance director Phil Whitworth said: “The board are happy with the progress made this year, with both divisions again showing healthy growth.

“The business has made large capital investments in both infrastructure and technology in order to remain competitive and offer our clients even higher levels of service.

“We remain committed to this strategy, along with continued development of our employees in order to deliver a sustainable long term future.”