UK ready meal manufacturer Charlie Bigham’s has released its annual results for the year ended 31st August 2024, reporting a rise in revenue of 8.8%.
Total profit after tax increased from £4.7 million to £5.3 million. Sales grew by 8.8%, which Charlie Bigham’s said was driven by increased sales in existing customers’ stores and increasing store distribution within its existing customers.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by £2.2 million to reach £12.7 million, up from the previous year’s rate of £10.5 million, driven by revenue growth. The company highlighted that it still has “only 5.9% market share” of premium ready meals, stating that it would continue to invest across the business.
According to the company, the quality of its food was at its “best-ever” level, measured by feedback from consumers.
“Operationally, the business made strong improvements in kitchen efficiency, which began to ease margin pressures brought on by previous years of inflation.”
Commenting on the results, Charlie Bigham’s CEO Patrick Cairns said: “This has been a strong year of performance for Charlie Bigham’s. We’ve been building momentum for the brand, introducing the brand to new audiences and deepening our presence in the market, with revenue and volume having grown by 9% this year.
“More people than ever are aware of our quality offering following the successful launch of our TV advertising campaign and promotional activity in retailer partners. Both our established and new customers consistently return as a result of the quality of our food, with our customer feedback initiatives measuring its best-ever levels this year – a testament to continued investment in product development and customer satisfaction.
“Operationally, the business made strong improvements in kitchen efficiency, which began to ease margin pressures brought on by previous years of inflation. Major upgrades to internal systems and a sustained focus on employee engagement also contributed to the company’s improved performance. We are pleased that Charlie Bigham’s, as an employer, has once again been recognised through the ‘Great Places to Work’ accreditation.
“This year, we’ve grown our top line while delivering the best-quality food we’ve ever made. With stronger systems, better margins, and more people discovering and enjoying our food, we’re in a great position to push forward and drive further uptake of our quality offering.”
