Fruit importing giant MMUK has suffered a rise in turnover but a drop in profits.
According to its latest set of accounts posted to Companies House, the Cambridgeshire-based company recorded a pre-tax profit of £2.2 million for the period ended 31 August, 2013 - a tumble from £3.8m the previous year.
The firm, established by AMC in 1972, and now one of the UK’s largest citrus and grape specialists, did however see a climb in turnover - up from £202 million in 2012 to £228m in the 52-week period to 31 August, 2013.
William Barber, a director at MMUK, said: 'The directors are satisfied with the result for this year, and consider the financial position at the end of the year to be an improvement on the previous year. The directors believe that the company is well positioned to weather the difficult economic environment and take advantage of any commercial opportunities that arise.
'We can report another year of growth in both sales and market share. The volatility of sterling against the euro and other major currencies remains a challenge which is managed through a continued strategy of currency hedging.'
He added: 'As a wholesaler, the company is dependent on retaining the loyalty of both its customers and suppliers. This is addressed by maintaining a constant focus on service levels and technical standards, the investment in new fruit varieties, and managing and challenging costs throughout the supply chain.
'The company's strategy of constant focus on supply chain efficiencies and new product development has helped to further cement our position as one of the key suppliers of fruit and fruit juices to the UK market.'
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