Finance Director Joanne Manfield and Managing Director Justin Thomas
Sweet company Bon Bon Buddies, of Oakdale, has announced record-breaking financial results for 2015/16, following expansion into China.
Europe’s leading provider of character and branded confectionery enjoyed a 13% increase in turnover to £44.4 million and a 125% increase in profit before taxation to £2.04m in its year ending April 30, 2016.
The company, which produces and distributes a mixture of licensed and own-brand products, also hit its target to make year-round sales account for 60% of revenue. The company previously relied on traditional holiday periods such as Christmas and Easter for the bulk of its sales.
The record-breaking results follow an ambitious growth plan that saw Bon Bon Buddies implement new distribution models in the Nordics and Germany, which saw a 12% increase in European sales.
The confectioner also opened its first Asia office in Hong Kong, which opened doors to the Chinese market for the first time and contributed to a substantial boost in Rest of the World sales by 165%.
In the same period, UK sales increased by 13%.
The company also secured multiple licensing contracts with global brands such as film giant Universal Studios and Swedish confectioner, Cloetta.
Meanwhile, Bon Bon Buddies’ own-brand products enjoyed a healthy 13% boost, with sales of its flagship mega sour Brain Blasterz range increasing by 33%.
Justin Thomas, Managing Director at Bon Bon Buddies, said: “This financial year has been full of exciting firsts: we’ve opened new distribution centres in Europe to grow our presence on the continent and have also dipped our toe into the Chinese market, which is already showing outstanding results for us.
“Each year, we continue to strengthen our position as Europe’s premier provider of character and branded confectionery.
“To have achieved our five-year strategy in just one year shows that our business approach is working and we’re now thinking bigger to accommodate our impressive growth trajectory.
“We have a healthy relationship with our international licensors, suppliers and distributors and this is testament to the success we’ve experienced over the last year.”
Shamelessly using cartoon movie characters to sell high sugar confection to young children, who will tell you that a Minions chocolate bar tastes far better than a plain old dairy milk, and so the kids will nag mom and dad relentlessly until they buy them that Elsa Frozen high sugar chocolate. One day the use of childrens cartoon characters to sell sweets will be banned, perhaps Wales where 26% of children are obese and 66% have tooth decay will be the first country to bring in such a ban.