Boparan gets ‘back to core’ with positive results
Food group Boparan, which owns the 2 Sisters Food Group, has revealed its like-for-like sales have risen slightly over its fourth quarter to 27 July.
The firm turned over £655.4m – up 0.2% on the same period last year, with like-for-like profit up 29.6% to £25.4m.
The Birmingham firm says its strategy to “get back to core” is delivering after it offloaded the Matthew Walker Christmas puddings business for £67m in October.
Ronald Kers, chief executive, 2 Sisters Food Group, said: “These positive results show further growth in like-for-like earnings for the Group. This is more evidence that our plans are coming to fruition and are driving improved performance.
“Our UK poultry operation is seeing further evidence of turnaround and all divisions have seen EBITDA benefits as a result of commercial initiatives, and efficiency improvements.
“Our unrelenting focus on cost reduction, control and cash generation has yielded positive results in the quarter, which gives the Group a strong platform heading into next financial year.”
“However, the environment is volatile both in the markets in which we operate and the economy at large. Brexit continues to present substantial uncertainty for all food processors but we are taking steps to ensure our business is fit for the future.”
