Burton’s Foods Limited, which operates as Fox’s Burton’s Companies (FBC), has reported its financial results for the 52 weeks ended 26th August 2023, revealing a 22% revenue increase on the year.
FBC, which manufactures products for brands such as Maryland, Jammie Dodgers and Wagon Wheels, revealed that it had net assets of £295.9 million at the end of the 52-week period, and stated that it had generated an operating loss of £10.9 million.
The company’s revenue was up a reported 22% on a like-for-like basis to hit £383.9 million, and it achieved a gross profit of £58.7 million, which it attributed to “branded focus” and category sales increases.
Its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) operating loss was £10,383, with FBC attributing this to “improved profitability, volume growth and branded focus”.
FBC also reported that its market share of the total sweet and savoury biscuit market was 11.5%, witnessing a 12% increase in its offering of Maryland cookies and a 10% growth in Wagon Wheels.
Future outlook
FBC said that the markets in which it operates “continue to be highly competitive”, so it would continue to develop new products and reformulate existing products.
It said that continuing to develop the company’s relationships with its retail customers and manufacturers was a “key area of attention” to meet consumer needs, and said it remained “confident that this relentless focus will continue to distinguish the company from its major competitors”.
