News Column

Gu's sales are the proof in the pudding as Noble Foods profits

August 11, 2014

TIM WALLACE



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 eff iciencies."


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.


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Source: City A.M. (UK)


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