Rude Health saw profits almost double last year ahead of its sale to Nordic plant-based business Oddlygood.
Revenue was up 17% on an annualised basis to £20.6m in the nine months to 31 December, which, combined with a drop in costs, meant operating profit almost doubled to £335k.
The business said its “cost environment has remained challenging”, but mitigations taken during the year allowed it to boost earnings.
Rude Health is bucking a category slowdown in plant-based milks, which has seen overall volumes fall more than 2% last year, according to Kantar.
Tim Smith, CCO of Oddlygood and Rude Health, said the results were “a testament to the strength of the Rude Health brand and the talented team driving a clear and focused strategy”.
“By expanding our distribution and increasing awareness, we’re seeing sustainable growth, and we believe the dairy alternatives category has even greater potential.”
Oddlygood bought Rude Health in October last year. It was the latest plant milk to sell up in recent years after Britvic bought Plenish in 2021 and AG Barr snapped up Moma the following year.
Smith said the business had seen “great momentum” since the sale and was well-positioned to recruit new consumers.
“We’re excited to showcase how we’ll continue to innovate and drive category growth together.”
Rude Health’s sales are primarily in the UK, with alternative markets making up less than 25% of its revenue.
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