Partly Cloudy

Partly Cloudy

max temp: 16°C

min temp: 12°C

ESTD 1874 Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

Stowmarket: Malt company Muntons celebrates ‘outstanding’ result as sales top £100m for first time

15:59 10 January 2014

Alan Ridealgh, group managing director of Muntons.

Alan Ridealgh, group managing director of Muntons.

A malt company is celebrating an “outstanding” year in which its sales topped £100million for the first time.

Paul Wells, chairman of MuntonsPaul Wells, chairman of Muntons

The chairman of Stowmarket-based Muntons, Paul Wells, described 2012/13 as “a year of change” for the company, in terms of people, funding, markets and profitability and said the firm expected the growth trend to continue.

The company achieved a turnover of £101m and profits of £3.5m, providing the second best result in its history.

“This is especially significant following the previous year, where we have seen a turnaround of £4.2m,” he said.

“We undertook a complete review of strategy and the executive team have robust plans in place. I believe that the outlook is very positive and there are many opportunities for growth with our global reach and strong customer relationships.”

Alan Ridealgh, group managing director of the company, whose workforce includes about 220 at its Stowmarket headquarters and a further 30 at its plant in Bridlington, Yorkshire, as well as teams in America and Asia, said the success of the distilling industry had been paramount to its success, but that this had been well supported by growth in the craft brewing sector.

“2013 was our year of regrowth,” he said. “It followed a year during which we moved away from supplying commodity customers so it was important we showed in our results that our strategy was working.”

Challenges in 2013 including the continued votality in the grain markets, and steep prices movement in malting barley, the business’s raw material.

The highlight of 2013 was the record achievement of the “Cedars” team at Stowmarket in producing 72,780 tonnes of malt while major refurbishment works on the steeps where it is processed was ongoing, the company said.

0 comments

Sizewell C

The vote to leave the European Union has posed fresh doubts over the likelihood of a new nuclear power plant in Suffolk.

James Dix, finance director at Stansted Airport.

Stansted Airport has announced a series to changes to its senior management team, following the recent appointment of new chief executive Andrew Cowan.

Sam Martin and her team from Angels Beauty Clinic with their awards at the Businesses of Saxmundham Customer Service Awards.

Angels Beauty Clinic carried off the top prize at the Businesses of Saxmundham (Bos) Customer Service Awards.

Ian Milne, managing director of Ipswich Town FC,  and Ian Surtees, managing director of  Vertas Group.

East Anglian multi-service facilities management provider Vertas Group has signed a three-year partnership deal with Ipswich Town Football Club.

The QD store in St Mathews Street, Ipswich has closed down.

Discount store QD has closed down its last remaining store in Ipswich after a fall in sales, the company has announced.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

Great British Life

Great British Life
MyDate24 MyPhotos24