Geest has reported growth of 12 per cent and sales of £106 million for the year ending January 3.
Last year saw continued growth in sales despite challenging conditions and the company saw a great deal of innovation with over 800 new products launched.
Geest saw 6 per cent growth in UK fresh prepared products. The largest sales growth, £40 million, stemmed from existing fresh produce business. This accounts for about 80 per cent of the group’s sales and more than 90 per cent of profits.
Salad sales grew by around 13 per cent in line with the market. Demand grew rapidly from May helped by the excellent summer.
Commenting on the results and the group’s prospects Geest’s chairman Sir John Banham said: “Despite 2003 having been a challenging year for all food manufacturers we have achieved 12 per cent growth in the business, reflecting our valuable market positions. We remain focused on our areas of fresh prepared foods and produce. Given the progressively higher profile of the healthy-eating debate we are increasingly confident of the strategic positioning of our businesses.
“We have increased our efforts to take cost out of our business and have worked with our customers and suppliers to improve supply chain efficiency.”
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