Glisten results shine as it grows snacks investment

19 September, 2008
Page 10 
Snack and confectionery company Glisten's latest financial results reveal a year of strong growth, with revenue for the year to 30 June rising 26% to £73.8m and pre-tax profit up 18% to £6.68m.
Chief executive Paul Simmonds said the AIM-listed UK company, which owns premium and healthy snack brands including Fruitus, SunMaid and Halo, had driven its business "towards those areas of snacking which we believe have long-term potential - including specifically the healthier and premium sectors."He added: "We recognise that some consumers' buying habits will adjust during the next financial year, but our focus on producing affordable treats, many with a healthier dimension, will underpin our continued ambitions for Glisten, as these sectors tend to hold up well during more demanding economic conditions."Glisten's principal activities are the manufacture of cereal, fruit and health bars, including diet products, which are sold at most high-street retailers. It also manufactures specialised coatings, which are marketed to Europe's largest ice-cream and bakery manufacturers. In September 2007, the group acquired 50% of Skinny Candy, a confectionery business focused on low-sugar and low-fat confectionery, and Dormen Foods, which became the foundation stone of its savoury snacking division. This was followed in November 2007 by the acquisition of Big Thoughts, which has been renamed Glisten Snacks, comprising two subsidiaries active in the low-fat/baked savoury snacking marketplace - Snacks Unlimited and The Lindum Snack Company.



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