Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Ingredients manufacturer Macphie reports £55.7m turnover

21 December 2018 by
Ingredients manufacturer Macphie reports £55.7m turnover

Food ingredients manufacturer Macphie has announced a 3.3% increase in turnover to £55.7m in its financial report.

For the year to March 2018, the group said its gross profit has declined slightly to 25.4% (from 28.4% in 2017), with operating profit in the year falling to £3.1m from £5.9m the previous year.

Chief executive Andy Stapley, who joined the company in October, replacing former managing director Andy Underwood, said: "In 2017, Macphie returned a record profit in what were very favourable market conditions. Against a more challenging backdrop this year, this is a positive set of results.

"The sector operates with tight margins, as we continue to produce premium products in a highly competitive industry which has seen some well-publicised challenges in the UK casual dining sector.

Chairman Alastair Macphie added: "Our focus at Macphie has always been on achieving stable and profitable growth that provides jobs and creates wealth in the local area, rather than maximising short term returns for shareholders.

"Given the challenging market environment, these results reflect a balanced and resilient business. With the current political landscape giving the UK an uncertain economic outlook, as a business we will continue to monitor developments and act to minimise any adverse impact."

Ingredients manufacturer Macphie reports growth >>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking