North East food company Prima Cheese saw major growth in both revenues and profits despite challenges from Covid, Brexit and rising inflation, new accounts show.
The Seaham company - which provides cheese to pizza companies around the country and abroad - has released accounts for the year to March 31 which show a 34% rise in turnover to £92.9m. Over the same period, operating profit increased 35% to £5.1m.
The company, which saw increases in both UK and export sales, increased its headcount during the year by 15, taking its staff numbers to 159. In the report, the company highlights a range of challenges from global events but said it had grown sales domestically and abroad while maintaining margins thanks to recent investments in its plant and machinery.
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In the accounts, the company says: “The period was one of change and innovation for the company as the directors continue to invest in the premises, plant and people. This continued investment was required to ensure the company could achieve its mid to long term strategic goals.
“As a result of this investment and innovation, distribution and administrative expenses as a percentage of turnover decreased in the period. The directors are investing further in innovation through research and development and are confident this will make the company more efficient, versatile and offer a greater range of products to existing and new markets.”
Prima Cheese was founded in 1996 by Behroz Beni, whose family still run the company. In recent years, the company has expanded its factory and warehouse, as well as investing in new machinery, to increase productivity and output.
A company spokesman said: “We are very proud of the results reported for the last financial year taking into account the obstacles faced by both Covid and Brexit during the same period.
“We moved into 20/21 with optimism and navigated through the challenges with careful consideration. By taking a pragmatic approach to our strategy we were able to protect and grow our business and are delighted that we were not only able to sustain business but increase both turn over and profit under such difficult circumstances. The results are also a testament to the considerable care and contribution of all the teams within the company.
“We look to build on this incredible achievement for the future progression and growth of our company, as well as the safeguarding and development of our people.”
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