Insider Media Limited

An £800,000 dent in profits has not fazed West Bromwich wholesaler East Ends Foods. The company is predicting increased turnover and market share once its new Aston site opens next year, telling Insider the company would be creating "the future – a new identity".

In new financial documents seen by Insider, East Ends Foods posted a dip in profit for the year ending 30 April 2011, falling from £4.5m in 2010 to £3.7m.

However, the company reported an increased turnover from £121.8m last year up to £125.9m in 2011.

The amount of cash in hand and at the bank rose over the year – a total of £1.6m was recorded at the 2011 year end compared with £905,934 in the previous accounts.

Speaking to Insider before the company's results were released, company secretary and director Jason Wouhra said the company had remained at the forefront through the tough economic climate.

"You adapt your business. It is about pulling together and finding a way through," he said.

"We pride ourselves on being a family business - our business is based on strong foundations. We don’t have two year plans or five year plans; this is a generational thing enabling us to see the big picture. And that is always what is best for the business. There is a good understanding – a common goal, common values and a common direction."

East End Foods, which specialises in producing Indian delicacies, said it wanted to continue the company's run of "substantial growth", which would culminate in the construction of its wholesale and conference centre.

It is being built on the six-acre former HP Sauce factory site in Aston and is set to create up to 330 jobs when it opens next year.

The company said it was predicting a rise in market share and turnover once the new facilities were running.

Wouhra said it was right that the HP site should remain associated with food.

"We will probably have some reference to HP as a mark of the past on the site," he revealed. "Although we don’t know what yet. But what we are creating is the future – a new identity."

The complex will include an urban farm, a cookery school and a new headquarters. Phase two, which will follow roughly two years later, will take in a hotel and conference centre.