Sales and operating profit have jumped by double digits in the latest financial year at ingredients supplier Macphie.
Accounts filed to Companies House for the year ended 31 March 2025 had the Aberdeenshire-based business reporting a 12% increase in turnover, up to £82.1m from £73.3m in FY24.
Having seen operating profit leap by nearly a half last time around, Macphie saw it improve by a further 11% to reach £5.9m. However, gross profit margin has continued to fluctuate over recent years and decreased by almost 1.7 percentage points to end up at 30%.
Macphie CFO Angela Willows, who assumed the role in October 2024, said the company had delivered a robust performance in FY25 with growth supported by continued customer demand and disciplined operational management.
“Macphie remains in a strong financial position and continues to execute its strategic priorities despite a challenging external environment,” she added.
To help create new capability and capacity in its core manufacturing estate, the company invested over £10m on refurbishment and enhancement at the Glenbervie site where its headquarters are located. Macphie chairman Norman Soutar noted how this had required the temporary reconfiguration of some of its manufacturing footprint, causing a series of operational challenges that tested colleagues. “We are confident that we came out of the experience stronger and with greater focus,” he said.
The capital investment was also designed to enhance the sustainability of operations. Willows confirmed that Macphie would continue its journey of reducing carbon output per tonne of the products it manufactures. These include paste concentrates for bread, cake mixes, glazes, icings, toppings, fillings, and sauces, along with some gluten-free and vegan options.
With Soutar taking over from former chairman Alastair Macphie right at the start of FY25, the family-run firm announced more board changes throughout the financial year ending with the announcement that fourth-generation member Ed Widdowson was replacing Andy Stapley as CEO as part of its strategic succession plan.
It has since opened a new 990 sq ft development kitchen at Berkswell, just outside Birmingham, and more recently a new 1,800 sq ft Customer Centre in Dubai where it will host live demonstrations, collaborative workshops, and tailored menu trials.
“In 2026 we are looking to continue the expansion in both the UK and internationally as we start to realise some of the capability improvements and capacity increases following this period of significant capital investment for the company,” commented Willows.
“We are confident in our long-term growth trajectory and are investing to support long-term success.”
No comments yet