Quorn Foods owner smashes £200m turnover barrier in record year
The company that owns North Yorkshire vegetarian food company Quorn has seen revenues break through the £200m barrier, driven by increased investment in its marketing activity and strong UK and international growth.
Stokesley-based Marlow Foods – which owns the Quorn and Cauldron Foods brands – saw its turnover jump from £176.1m to £204.6m for the year to the end of December.
The company said sales in the UK continued to perform well with growth being driven through increased investment in consumer and customer marketing activity.
Sales in overseas markets were also strong, especially in the USA, Nordics, Australia and Germany.
Although the group said it experienced cost inflation, margins have been protected by efficiencies in the supply chain where it continues to invest.
The company said the uncertainty of Brexit negotiations makes it difficult to assess the future impact over future trade in Europe, however, it continues to review the situation and said it does not plan to limit its planned investment to grow its international business.
The group, which recently announced it was making a £7m investment in an innovation centre at its headquarters, reported pre-tax profit of £31.9m, up from £24.8m.
Marlow Foods is a wholly-owned subsidiary of Monde Nissin UK, whose parent company is Monde Nissin Corporation, which is a major international food business based in the Philippines.
