Waistline awareness scores for Glisten
HIGH demand for healthy snacks and treats and a string of acquisitions has helped boost the profits of cereal bar manufacturer Glisten.
The Leeds-based Alternative Investment Market (AIM) quoted firm reported a 25% rise in profit before tax from £29.7m to £33.5m for the six months ended December 31 with a 13% increase in turnover to £33.5m from £29.7m.
According to Paul Simmonds, Glisten's chief executive, the results demonstrate the “breadth, robustness and dynamism” of the group aided by recent expansion into the savoury snacking market and developments within its own range of fruit, cereal and health bars.
In September 2007, the group acquired 50% of low sugar, low fat confectioners Skinny Candy and took over premium nuts business Dormen Foods, which has became the foundation stone of Glisten's Savoury Snacking Division.
Two months later it once again extended its reach into the low fat/healthy baking snack market with the acquisition of Big Thoughts, now renamed Glisten Snacks.
“We have an exciting stable of young relevant brands which we are now beginning to focus on and market for the first time,” said Mr Simmonds.
“Fruitus Fruit Bars and new Fruitus Bites were successfully relaunched this month and in May we launch SunMaid Fruit Fingers. In the summer we will introduce a completely new range of Skinny Candy products in the better-for-you confectionery sector.”
And it seems that the UK is a nation turning away from its favoured less healthy snacks if Glisten's sales for the first eight weeks of 2008 are anything to go by. The company said that in the first two months sales were 30% ahead of last year and up 13% on a like-for-like basis.
Keeping up with supply however may prove a challenge for the enterprising healthy snack firm, which has already seen a dent in potential sales figures after underestimating demand for its natural flavours and colours lines sold under the Glisten Confectionery brand.
Similarly, advanced formulas for more than 30 new products launched under the Halo brand led to longer lead times and a drop in sales.
As well as confectionery, Glisten manufactures specialised coatings for the ice-cream and bakery industry.
It now employs more than 700 people across nine manufacturing sites across the UK including Blackburn, Skegness and Newport in Wales. Three of its sites are nut-free and four have organic food accreditation.
