Boparan records encouraging Q4 performance for branded divisions
Fox’s Biscuits and Goodfellas pizza owner Boparan Holdings has reported a positive branded divisional performance with Q4 like-for-like sales up 3.2% to £91.1m.
Operating profits took a significant step in the right direction after rising by 22.5% to £9.8m for the branded division.
Investments in quality and new premium ranges at Fox’s Biscuits have helped deliver another strong performance, with sales, margin and market share up substantially over the comparative quarter.
There have been further successful launches in the premium tier, including the new Granola cookies and Viennese chocolate-dipped biscuit ranges, and the existing core ranges continued to perform well, said the company.
The Chunkie range has also been supplemented with the launch of the chocolate Orange Chunkie.
The branded division also reported a year-on-year increase in export orders for its Christmas puddings.
2 Sisters chief executive Ranjit Singh was pleased that the branded division has continued its good progress.
“Our Frozen and Biscuits businesses continue to see gains in market share in both the UK and in Ireland, with a new contract for own-label pizza won for a frozen retailer and a raft of own-label and new product launches for biscuits,” Singh said.
Boparan Holdings, the parent company for 2 Sisters Food Group, manufactures in the branded, chilled and protein categories. Total sales were up 2.4% from £756.8m to £775.0m; like-for-like sales rose 0.8% to £763.0m. Operating profit was up 39.9% from £18.8m to £26.3m, with like-for-like operating profit rising 34.6% from £18.8m to £25.3m; the like for like profit margin also climbed by 3.3%.
This was the company’s third consecutive quarter of operating profit progress and improvements in all divisions.
Want more stories like this in your inbox?
Sign up for our FREE email newsletter
- chief executive
- Fox's Biscuits
- bakery news
- operating profits
- 2 Sister Food Group
- branded division
- Ranjit Singh
- Granola cookies and Viennese chocolate-dipped biscuit ranges
- Chunkie range