Revenue and profits rise at Asian food company

Asian food firm East End Foods has seen revenue and profits increase but said it is continuing to monitor the potential impact of the UK leaving the European Union on the company.

East End Foods, the largest importer of ethnic food ingredients in the UK, saw group turnover increase by 3.2% to £191.4m in the year to the end of April, up from £185.5m.

Gross margin decreased from 13.06% to 12.7% with a total gross profit amounting to £24.3m from £24.2m the year before.

Profit for the financial year increased from 3.75% to 3.9% with the total profit after tax coming in at £7.5m, up from £6.9m in 2017.

The Birmingham company, which processes, cleans, grinds and blends all products in the UK, said: “Currently there is continued uncertainty in the market around the United Kingdom’s exit from the European Union. The group makes sales into the European Union. It is unknown what the impact of Brexit will have on the group and the directors continue to monitor this.”

The firm supplies multiple retailers such as Tesco, Asda, Waitrose and Morrisons and the majority of independent retailers in the market as well as restaurants and catering establishments.

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