Europe’s biggest own-label ice cream manufacturer saw turnover grow from £161M in 2013 to £201M in the year to December 28 2014.
Operating profit also rose nearly 90% from £17M in 2013 to £32M last year, according to the ice cream maker’s latest financial statement filed with Companies House.
“The underlying growth is mainly as a result of the acquisition of Fredericks,” said the statement said.
‘Relaunch of Cadbury’s range’
“Some areas of key growth include the relaunch of the Cadbury’s range, the growth of the Oreo product ranges together with increased turnover from the discounters.”
R&R said it has obtained synergies from the acquisition of Lancashire family-owned ice cream maker Fredericks Dairies for £49M in 2013.
View from R&R
“The underlying growth is mainly as a result of the acquisition of Fredericks.”
- Financial statement from R&R Ice Cream
The firm has also made cost savings following the closure of its Leeds factory and the transfer of staff to another site in North Yorkshire. Staff numbers rose from 815 in 2013 to 927 last year.
‘Innovative ice cream’
“The company has continued to develop, produce and sell innovative ice cream products, in both branded and own-label forms,” the statement said.
Most of R&R’s sales activity was based in the UK and the company said it has strategies to manage the risk of economic fluctuations in this country.
Earlier this month the Yorkshire-based manufacturer revealed partnership talks with food giant Nestlé.
The firms plan to create an ice cream joint venture which would have more than 10,000 employees and would operate in more than 20 countries, mainly in Europe and Africa.
Earlier this year R&R acquired Nestlé South Africa’s ice cream business, boosting its international expansion plans.
2014 results at a glance
- Turnover rose 25% from £161M in 2013 to £201M last year
- Operating profit rose 89% from £17M in 2013 to £32M last year
- Staff numbers rose from 815 in 2013 to 927 last year