Tuesday, January 27, 2015

Faccenda Foods reports revenue growth for fourth straight year

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    U.K. poultry company Faccenda Foods reported its revenues have grown significantly over the past four years.
    From WATTAgNet:
    U.K. poultry company Faccenda Foods reported that it increased its revenues for the fourth consecutive year. The company recently released information for the fiscal year ending April 26, 2014.
    Since 2010, Faccenda Foods has seen its revenues jump 14.5 percent, reaching GBP418.1 million (US$633.1 mllion).
    The company said consumer demand for convenient meals stimulated sales into its ready-to-cook market.  However, sales of in-store rotisserie chicken fell.
    “Performance has been strong in both chicken and turkey operations and in particular we have been encouraged by the success of our expanding convenience ranges,” said Andy Dawkins, Faccenda Foods managing director.
    Since the end of the year, the company has fully integrated turkey business Cranberry Foods – which it acquired in May 2012 – and rebranded the group as Faccenda Foods. It has also recently completed a GBP35 million (US$53 million), 100,000 square foot portioning facility at its Telford site to support its ‘roast in the bag’ products. In November 2014, the company agreed to acquire Cherry Valley Foods, the duck processing business of Cherry Valley Farms.
    Faccenda employs about 3,000 people in its hatcheries, farms, feed mills and processing plants across the U.K.
    “Our strategy of growth in scale, product innovation and trusted delivery has paid dividends for our customers. We remain committed in the next few years to significant investment in farming, manufacturing and most importantly our people, who we firmly believe are key to our long term success as a business,” said Dawkins.

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