UK: Profits dip at Branston Ltd.

At Branston Ltd., one of the UK's largest potato businesses, despite a rise in turnover, profits have dipped. Branston, which supplies own-label products to supermarkets such as Tesco, as well as selling under its own brand, has reported a drop in pre-tax profits from £7.7 to 6.4 million (€8.8 to 7.3 million) for the year to 30 July 2017.

However, during the same period, the company's turnover rose from £123.2 to 143 million (€140.8 to 163.5 million).

Insidermedia.com reported how Branston representatives said that the increase in turnover was due to a rise in volume and higher raw material costs as well as the market operating "consistently" above contract pricing.

A statement signed off by the board said: "During the year, performance has been satisfactory and, as far as the board is aware, this is likely to be the case in the forthcoming year. The board is confident that the company's strategy will continue to deliver results that meet our shareholders' expectations in the years to come."

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