Bedwas-based food company Peter’s Food Service, better-known locally as Peter’s Pies, has seen its pre-tax profits rise to £3.6 million.
According to accounts for Peter’s Holdings Ltd, filed at Companies House, the company almost tripled profits in its latest trading year, which ended on May 2015.
In the year ending May 2014, the firm reported a pre-tax profit of £963,000.
The rise in profits has been put down to its success in new product ranges, such as its licencing deal with Heinz, and stable prices of its raw materials.
Turnover increased to £84.1m from £80.3m the previous year and production of pastries also increased from 25,556 tonnes in 2015 to 23,808 tonnes in 2014.
In their report filed at Companies House, the directors of the company said: “The opportunities provided by licencing have been made possible by the emphasis placed on new product development.
“The group will continue to invest in new product development and in its manufacturing facility. This coupled with improvements in working practices have produced increases in productive capacity and efficiency that have provided the basis for the increase in sales in 2015 and the improvement in profitability.”
The report also revealed the sale of manufactured pastry products makes up about 72% of the group‘s turnover. This includes Peter’s own-branded products, licenced products and retailer-branded products.
Its licensed product range include Heinz, Sharwoods and Bisto branded pies and pasties. These contributed to underlying growth and an increase in brand sales to 38% of turnover.
The company said it expected to launch further new products in the future.
Earlier this year the company, based on Bedwas House Industrial Estate, acquired gourmet hot dog business Mom’s Fabulous Foods.
Farnham-based Mom’s Fabulous Foods’ turnover is in excess of £2 million and its hot dog ranges are supplied to stadia, travel hubs, pub groups and fast food outlets across the country.
Note to editor: There is a mistake in the article.
“…production of pastries also increased from 25,556 tonnes in 2015 to 23,808 tonnes in 2014.”
Either ‘to’ and ‘from’ have been mixed up, the production of pastries decreased, or the numbers and date pairs need to be switched.
Who Cares? Glanmors are still the best.
Yes, because Glanmors has a huge reach with its products sold in many shops all over the UK. Even then, there is small bakery in Paris that is even nicer when it comes to cakes and bread.
Huge reach yes all over Caerphilly, `oh, and Bedwas.
Peters? produce 25,556 tonnes of Crap.
Peter’s Pies may well produce over 25’000 tonnes of pastries but they’re not a patch on Caerphilly’s finest pie, pasty, bread and cake maker – Glanmors.
Greggs do the best egg custards.