Weetabix has grown revenues and profits in its first full year of ownership by China’s Bright Food Group.
Turnover for the year to 28 December 2013 increased by 3.3% to £366.4m, while operating profit before exceptional items was up 2.2% to £102.5m, according to sister title The Grocer.
The company described the results as “ultimately satisfactory” following a challenging trading period. It attributed the growth to continued brand investment, ongoing innovation and strong customer relationships.
It has also launched new front-of-pack labelling highlighting that Weetabix is low in salt, fat and sugar.
Clare Canty, Weetabix senior brand manager, said the new pack was designed to remind customers about the “nutritional strength” of the brand. “From listening to our customers, we know that health is one of the biggest motivating factors in their decision making process,” she said.
“As such, we wanted to make it easier than ever for people to remember that when it comes to providing a nutritional and tasty start to the day, Weetabix really is the number one choice that the whole family can enjoy.”
Weetabix has faced difficulty as consumers turn to own-label products and the discounters rather than paying for premium brands. As a result, it has invested in new product development, launching the Weetabix On The Go breakfast biscuit in apple and cinnamon; fruit and fibre; and milk and cereals varieties to grab a share of the booming breakfast market.