Tasty sales and profits from East End Foods
West Bromwich-based ethnic ingredients group East End Foods has seen a rise in profits over the last year as sales edged even closer to the magic £200 million figure.
The business, owned and run by the Wouhra family, saw profits rise to £7.18 million in the 12 months to the end of April, up from £6.89m the year before, while turnover rose 3.2 per cent to £191.35m.
As a result the business was able to double the dividend it payed to its shareholders last year, to £10 million.
In documents just filed with Companies House, the directors said the business had enjoyed 'substantial growth in recent years'. This is set to continue due to greater efficiency and new product development, they said.
At the same time East End Foods, which employs around 350 people, has continued to invest in quality control, environmental issues, IT and credit management.
Looking ahead, the directors said: "Currently there is continued uncertainty in the market around the United Kingdom's exit (from the European Union). The company makes sales into the European Union. It is unknown what the impact of the exit will have on the company and the directors continue to monitor this."
