Double-digit growth for bottled water firm
Bottled water company Harrogate Spring has reported a year of double-digit growth, during which it invested further in its facilities.
The family business, which last year reported £1.5m pre-tax profits on revenues of £19.8m, has seen sales surge by more than 11% to £21.8m in the year ended 31 March 2019. The firm said this represented three times the market growth for plain bottled water in the UK.
Harrogate Spring said it had seen gains across a number of key strategic areas including the grocery, foodservice sectors, export and travel markets. The firm said it had also secured greater demand for premium glass products in hospitality.
The firm said it now commanded 19% of the out-of-home market for still bottled water, more than twice that of the next competitor. Harrogate Spring’s glass sales showed growth of 40%, buoyed by on-trade demand.
Sales and marketing director Rob Pickering said: “Demand for bottled water is still showing strong growth but our trajectory is three times that of the market and we have cemented our position as the leading out-of-home bottled water brand.
“The business switched to using more than 50% UK-sourced recycled content in PET bottles in 2018 and this commitment to sustainability and leadership in environmental packaging has been a key driver in the marketplace.
“Becoming the official water of the Royal Albert Hall has underlined our premium positioning as the oldest and original British bottled water brand and presents exceptional new opportunities for brand exposure.”
CEO James Cain OBE added: “Investment in state-of-the-art facilities to establish a centre of excellence in Harrogate has been crucial to our growth strategy, allowing our family-owned business to compete with multi-nationals in a crowded marketplace.
“Success does not come easily and it’s a huge testament to our team and the hard work of everybody across the business.”