US deal helps Baxters Food Group owner drive sales
The owner of Baxters Food Group has seen sales jump on the back of its integration of US catering business Wornick.
WA Baxter & Sons (Holdings) boosted turnover by 40 per cent to £226 million in the year to last May as core earnings rose to £20.2m, up from £15.5m the previous year.
The Fochabers-based firm also took exceptional one-off charges of £5.5m.
Audrey Baxter, executive chair and chief executive, said: “As intimated last year, the acquisition of Wornick into the Baxters family has made a transformational change to the scale of our business.
“While our 2015 results reflect the costs of such a significant acquisition, I am pleased to confirm that our projections for the current year’s trading will demonstrate the significant synergies we have made across our global operations.”