Whitworths returns to pre-tax profit as sales boom

Whitworths is looking ahead to “an exciting year” after the dried fruit and nuts brand bounced back into the black on the back of double-digit sales growth.

A new private label contract with Holland & Barrett, strong underlying performance across existing customers and higher prices to recover cost inflation, helped the group boost revenues 22% to £140.4m in the year to 30 December.

Newly published accounts also revealed operating profits jumped from £500k in 2022 to £4.1m as margins improved, with the business moving from a pre-tax loss of £250k to profits of £1.9m.

Whitworths CEO Mark Fairweather said: “2023 was a strong year for Whitworths and 2024 is expected to continue in this manner, driven by our investment in the Whitworths brand relaunch, category-growing initiatives with our customer partners and investment in new production capabilities significantly reducing the reliance on third-party production.”

So far this year, Whitworths has lobbied the government to recognise dried fruit, nuts & seeds as contributors to the recommended 5 a day, as well as launching its first-ever TV ad campaign.

The 138-year-old company, which has undergone a revival since being acquired by Turkey’s Anatolia in 2017, is tapping into the trend for healthier eating and awareness of UPFs by encouraging consumers to add its products to any meal occasion.

“2024 is an exciting year for the Whitworths brand following an extensive dive in to reviewing how we position ourselves in light of the new paper we commissioned last year,” Fairweather added.

“Throughout the last five years, investment in our site regeneration programme has exceeded £15m, and is now complete, but our plans for continuous improvement have not stopped and we will continue to invest in the site and increased capabilities to support the further growth and drive increased efficiencies.”