Plans are in the pipeline to construct a new bakery at what was previously a British Sugar site in Bardney, Lincolnshire. This was announced by Associated British Foods (ABF) and the company has already been granted planning permission. .
FoodManufactureco.uk quoted an ABF spokesman saying: “Construction is scheduled to commence this year, with the aim of completing the site in 2018.” More details about the factory were to be released “in due course”.
ABF manufactures several renowned food and drink brands which include Twinings Ovaltine, Pataks, Kingsmill, Silver Spoon and Blue Dragon. It also owns British Sugar.
In its full year results, the company disclosed that it was among those companies that benefited from last June’s Brexit vote after facing challenges as a result of a weakened Euro earlier in the year.
The company was quoted saying: “Following the result of the EU Referendum, sterling has weakened further and at these rates we expect a bigger translation benefit in the final quarter, with no material transactional effect,”
The company further said that as a result, its outlook for the current financial year has improved and a drop in adjusted earnings per share for the group for the entire year was no longer expected.
This Financial Year’s Outlook
The ABF Group posted a 5% growth in revenue to the tune of £13.4bn in the 53 up to September 17, 2016 with adjusted operating profit rising 3% to £1.1bn.
According to the company, the diversity of its operations plus its “broad geographical footprint” coupled with a strong balance sheet equipped them appropriately to exploit those opportunities as they arise.
The company was also a recipient of awards for success this year. Jordans, Dorset & Ryvita Company, which is its subsidiary, won the Food Manufacture Excellence Award for ambient manufacturing company of the year. Jordans, Dorset & Ryvita emerged winner after battling it out with five other manufacturers in the ambient category. The contenders included Alara Wholefoods, Kolak Snack Foods plus Weetabix.
In another development, Muntons have made plans to invest in a multimillion pound malt factory in Yorkshire that could see the creation of six new jobs at the firm.
The company’s production General Manager, Guy Newsam was quoted saying: “Were planning permission to be granted, we’d be going ahead with investments and be completed in about 12 to 15 months.”