The acquisition of the Dutch branch of Keelings Fresh International has been cited as the reason behind the company’s latest financial loss.
For the year ending 30 November 2013, the fresh produce firm recorded a pre-tax loss of nearly £1.3 million – up from 2012’s loss of £910,000.
Turnover, though, had increased – being recorded with Companies House at £50.5m in 2013, up from £37.8m in the year ending 24 November 2012.
Enda McNicholas, group financial director at the UK arm of the business, said: “The company recently filed its annual accounts, which incorporates Keelings Fresh International Limited’s UK business along with a Dutch branch which is consolidated.
“The increase in turnover during the year is due to the acquisition and consolidation of the Dutch branch. During the year the Dutch branch incurred trading losses which impacted negatively on the overall performance of the company. Keelings Fresh International Limited has traded strongly in 2014 to date, and the outlook is for a strong closing performance to the year-end in November 2014.”
Meanwhile, following the closure of its packhouse operation in Harlow over the summer, Keelings has moved its office facilities from the same site in The Pinnacles Harlow to Sandringham House, also in the Essex town.
McNicholas said: “The move, which will take place during October 2014, is in line with the company’s strategy, and will bring new efficiencies and offers the business further growth potential for the future.”
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