PDM Produce grew its turnover from £29m to £38.9m in the year ending 31 March 2014, while profit was up from £261k to £1.9m
An increase in supply lines being delivered to ‘current’ customers, “significant” new customer deals, and a good harvest have led to PDM Produce increasing its pre-tax profit and turnover.
The Shropshire-based fresh produce firm grew its turnover from £29 million to £38.9m in the year ending 31st March 2014, while profit was up from £261,000 to £1.9m.
PDM’s directors are aiming to continue the company’s sales growth through additional product ranges and new customers.
Speaking in a statement accompanying the latest set of accounts, which were posted at Companies House, Elizabeth Maddocks, a director at the salad specialist, said: “Harvest 2013, and the year to 31 March 2014, has seen a return to the yield and quality of crops grown in harvest 2011. The summer was dry to start, and the sun held until September, which led to a strong market demand as well as favorable growing conditions.
“A significant new customer win, and an increase in the supply lines being delivered to current customers has resulted in sales growth of £9.9m.
“It is worth mentioning that the wage bill increased by over £1m in the year to manage this expansion, and the result is in spite of that. The increase in headcount of 45 new employees into our workforce also indicates the human investment we have had to make in our business to support our growth in the past 12 months.”