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Alex Lawson


Thanet Earth makes million-euro profit

Fresca reports Thanet Earth Marketing has achieved financial turnaround at UK's largest glasshouse vegetable project

Thanet Earth makes million-euro profit

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UK-based fresh produce company Fresca has revealed a turnaround in the performance of Thanet Earth Marketing, the joint venture company which oversees operations at the country's largest glasshouse vegetable project, Thanet Earth.

The project, which last year posted a €5.04m (£4.4m) operating loss, recorded a €1.03m (£900,000) profit this time around, a figure which executive chairman Christopher Mack described as “remarkable”.

In its recently published annual report, the company put the result down to the leadership of new managing director Ian Craig and the dedication of staff at the site.

In an upbeat overall assessment of its activities over the past financial year, Fresca announced that turnover for the year to 29 April 2011 increased 6.9 per cent to €445.8m (£389.5m), with pre-tax profits rising from €5.6m (£4.9m) in 2010 to €8.4m (£7.3m).

Proclaiming a “new era” at Fresca, Mack said the company had undertaken an internal review to identify priorities and new opportunities and this had led to the creation of a three-year strategy addressing everything from facilities and support capacity to its customer mix and product direction.

“The process has been designed to help us make our business more proactive and intuitive, less reactionary and more clearly planned in advance,” Mack said.

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