Bonds Confectionery, which produces old fashioned sweets in jars and supplies major grocery retailers with own label, has sweetened its balance sheet with a healthy increase in all key measures.
The company, whose customers include buying groups, symbols and major multiples, saw EBITDA jump 41.5% to £706,000 in the year to the end of December. Operating profit surged 75.4% to £461,000 and turnover climbed 12.2% to £15.58m.
The financial performance ensured the company, which has a factory in Sutton-in-Ashfield, Nottinghamshire, turned around its less impressive fortunes the previous year.
Bond, which also makes traditional bags, top-selling children’s products and novelty confectionery, attributed the strong results to increased turnover with major retailers and the provision of bespoke seasonal merchandise for several larger customers.
The company said it saw the bespoke market as a major opportunity for future growth. MD Philip Courtenay-Luck said the past year was proof that, “more than ever”, the confectionery sector was experiencing growth.
“We have continued to see strong sales by promoting our current lines and developing new products to keep our offering fresh,” he added.
The year had also seen the company increase its own-label offing, which it would be building on even further “to supply the huge demand we’re already receiving from retailers requiring bespoke products.”
Bonds started making sweets 120 years ago and said it still used many of the original recipes in the products in manufactured today. Some of its newest lines include Candy Sticks and Fizzy Cherry Cola Bottles in its 39p-bagged ranges.
Bonds also delivers direct to the public for orders placed on line for a £5 minimum – selling 450 different products, including brands such as Haribo and Barratt’s, as well as to the trade.
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