Gu’s sales are the proof in the pudding as Noble Foods profits
Egg supplier Noble Foods has reported a healthy rise in profits for 2013, supported by its pudding brand Gu.
Pre-tax profits climbed 17.3 per cent on the year to £17.4m.
Turnover climbed 8.6 per cent to £646m, while the company kept its costs under control – distribution costs fell 0.5 per cent to £38.1m, and administrative expenses dipped 2.4 per cent to £29.6m.
“Profits have increased in the year due to improvements in the performance in Gu,” said the firm’s financial report.
“There is continuing competitive pressure which always drives us to reducing out costs and improving out efficiencies.”
Despite the rise in profits, the firm paid out £9.3m in dividends to owners Peter Dean and Michael Kent – far lower than the £17.3m in dividends paid out for the 2012 financial year.