2 Sisters Food Group, owner of Fox’s Biscuits, has seen a fall in branded sales, down 3% for the full year.
The company announced in its full-year 2014 results for the 53 weeks ended 2 August 2014, that although sales were down, pre-exceptional operating profit for branded products grew by 40.2% to £25.8m. The results were posted by parent company Boparan Holdings.
Ranjit Singh, chief executive of 2 Sisters Food Group, said: “Our LFL sales and operating profit performance are satisfying after a transformational year for our business. We have made a series of tough decisions and taken action throughout the year to ensure we build a strong foundation for our business, which will set us up for success in the longer term.
“Investing in growth and lowering our cost base were the key themes of our operating focus over the past 12 months.”
The company said it had grown pizza sales and would continue to explore new channels, such as exports and a wider distribution of Holland’s pies.
It hopes that Fox’s Biscuits’ marketing drive and TV advertising will help reinvigorate the brand as new markets, packaging and product opportunities are realised in the new financial year.
It also said it would build on its success in its chilled division and will continue to improve efficiency, invest in its innovation capability and in capacity at Meal Solutions and its specialist bakery sites “to provide a platform for future growth with customers”.