Sales grow at Worldwide Fruit
Worldwide Fruit has increased turnover by more than 6 per cent to almost £100m mainly as a result of a strong growth in its customer base.
The distributor is considering further investment to expand its 52,000 sq ft Spalding site in the next five years.
Turnover at Worldwide, which sources, packs and distributes fruit, rose by £4m to £98.4m for the year to 2 July 2011.
Overall trading was strong, the company said, with increases in its traded top fruit and New Zealand Agency top fruit, as well as a rise in its avocado business.
UK business reduced year-on-year because of natural conditions resulting in a lower available crop.
The Jazz apple brand continued to rise and started to develop consumer recognition – further growth is expected by Worldwide.
The business paid down a "significant" proportion of its bank borrowing during the year as it had continued to trade profitably.
As of 2 July, the net debt position was £2.8m, compared with £5.4m in 2010.
"Looking forward the business has budgeted overall to grow in line with our customers," the directors' report said.
Pre-tax profit for the year increased slightly to £1.7m. The operating profit was £2.7m before the company provided £596,000 of staff bonuses.
Worldwide Fruit, which employs more than 200 staff, is 50 per cent owned by Fruition PO, the UK producer organisation, and 50 per cent by ENZAFRUIT Marketing.
The Spalding site is where a high proportion of the imported apples and pears are packed, as well as speciality lines of avocado, kiwi and dates.
