Food chain business doubles pre-tax profits
TURNOVER has declined at food chain business Saria but pre-tax profits have more than doubled as it looks to invest in innovation following its acquisition by Germany’s Saria Group.
The company which was family-owned until March this year, reported £47.8m in turnover for the year to 31 December 2015, down from £63.0m the previous year.
Pre-tax profits for the year leapt to £5.2m, up from £2.0m in 2014. As of 2013, results no longer include those of subsidiaries.
It said it will continue to invest in modernisation, and has recently announced that its Doncaster site is officially running “off the grid” using 100% renewable energy from its ReFood anaerobic digestion plant.
The manufacturer supplies products for the food, agriculture, and aquaculture industries. It was bought in full by Saria Group earlier this year following their acquisition of the remaining 49% of the business.
Saria Group had acquired a 10% stake in the Prosper de Mulder Group in 2010, increasing it to 51% a year later.
It changed its name from Prosper de Mulder to Saria in 2014.
At the time of the acquisition in March, Nick de Mulder, Saria shareholder and son of the group’s founder Prosper de Mulder, said: “I and my whole family are delighted that our family business, with a heritage that dates back to the beginning of the 20th century, has been placed in safe hands.
“The SARIA Group has shown itself to be a competent and reliable partner over many years. Full acquisition by SARIA is also in the interests of our suppliers, customers, partners and employees as it represents the right step in terms of future developments.”
The Doncaster-based business has been investing in a major food waste recycling facility which will be the biggest in London once it is opened in 2017.
The site is costing Saria £32m.
Saria UK employs approximately 950 people operating logistics sites and six manufacturing facilities in the UK which process animal by-products and organic waste.
The Saria Group employs around 6,800 people worldwide in 179 locations across 19 countries.