McVitie’s owner Pladis UK has released its results for the year ended 31st December 2024, with revenue increasing on the year.

Pladis UK manufactures snacks for a number of its brands, which include Godiva, Go Ahead!, Carr’s, Jacob’s and McVitie’s.

Pladis’ revenue increased by £21.8 million on its 2023 revenue of £984.4 million, which it said had reflected a “strong innovation programme” throughout the year.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) was £150.6 million, down slightly from its 2023 EBITDA of £151.6 million, and operating profit was down from 2023’s £99.8 million to reach £81.9 million in 2024.

Gross profit for 2024 was reported to be £321.7 million, up from a gross profit of £311.7 million in 2023. However, looking at total profit for the financial year, Pladis achieved £63.1 million in 2024, which was a decrease from the 2023 total profit of £95.6 million.

Pladis said that during 2024, it had continued to invest in its brands, as well as “accelerating the pace of innovation, executing well in market and implementing programmes” to reduce its supply chain cost base and develop talent.

However, it commented that the “ongoing evolution” of the retail food industry could “adversely affect the Group’s operating results”, with raw materials and energy costs remaining “volatile”. Pladis said it would operate a commodity risk management framework to seek to manage supply and cost in a specified time frame.