Allied Bakeries reported considerable success for its Kingsmill Little Big Loaf, as parent company Associated British Foods (ABF) announced its results for the year ended 18 September 2010.
ABF achieved a 7% increase in revenue in its Grocery business, to £3.4bn, but said the higher wheat costs seen towards the end of the year would put pressure on margins for 2010/11.
It ingredients arm also achieved an increase in revenue of 8% over the past year, with operating profit up 18%. This improvement was driven by a strong performance from its bakery ingredients and enzymes businesses.
“The yeast and bakery ingredients business of AB Mauri achieved a good result,” according to ABF.
“Bakery ingredients had another strong year of growth by concentrating on expansion of its range of icings, toppings and fillings in the UK, as well as major new product launches into the craft bakery sector in Brazil, Argentina, Peru and Colombia, which drove growth in South America.