KTC Edibles, based on Moorcroft Drive in Wednesbury, saw a huge leap in pre-tax profits in the twelve months to 31 December 2019.
The company has reported a rise in pre-tax profits from £3.4m to £6.3m, with turnover also increasing from £266.1m to £290.3m in the year in which it also celebrated its 40th anniversary.
The food manufacturing firm supplies over 250 million litres a year of high quality cooking oils to all sectors of the food industry, exporting across Europe and North America. Its wide product range also includes drinks, canned goods, chutneys and sauces, flours, dried pulses, spices, rice and pasta. KTC Edibles supples to big supermarkets such as Tesco, Asda, Sainsbury’s, Iceland and the Co-op, as well as wholesalers and smaller retail stores.
A statement by the board said: “Sales for edible oils were as per our projected growth strategy and an increase in sales within the retail sector has come from growing our footprint with new national accounts. The group continues to increase its market share across all its channels.”
Think Sandwell congratulates KTC Edibles on its success and hopes that it has continued to flourish throughout 2020. To find out how we can help your business grow, visit our Business Services pages.