Overcast

Overcast

max temp: 14°C

min temp: 9°C

ESTD 1874 Search

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.

shares
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.

shares

0 comments

Fire crews rescue the man in Rumburgh - photo Jane Davis

A driver is lucky to have escaped after his car careered off the road and into a pond in Rumburgh, say eyewitnesses.

There are around 17 miles of tailbacks on the northbound A12 this evening.

A property in Leavenheath was burgled on Monday.

Police are appealing for information after a man who exposed himself to a 16-year-old boy on Tuesday.

Nowton Park daffodils. Pictured is George Cole.

March winds and April showers should give a very traditional flavour to the weather over the next few days as youngsters across Suffolk start their Easter school holidays.

The Charlatans' frontman Tim Burgess is looking forward to returning to V Festival this year

The Charlatans are among the latest names added to this year’s V Festival.

Staff at Sainsbury's on Woodbridge Road Andrew Rodger (left) and Martin Palman with youngsters at Noah's Ark Pre-School taking part in a fundraising 'bunny bounce' to raise money for a better outdoor play area and staff Sam Chambers (front L to R) Sophie Woodward and Sue Woolard.

Dozens of toddlers have helped an Ipswich pre-school raise funds to improve its outdoor play area – by taking part in a ‘Bunny Bounce’ challenge.

Hollesley.

Opposition has been voiced over proposals to use part of the grounds of a residential home for nine properties, including much-needed affordable housing.

The design of the proposed new clifftop shelter at Felixstowe - a replacement for an earlier modernistic design labelled as a monstrosity by some councillors.

Proposals for a new clifftop shelter labelled by a community leader as a “monstrosity” have been ditched in favour of a more traditional design.

Enthusiasts at Bawdsey Transmitter Block at Bawdsey Manor to mark the 80th anniversary of the Daventry Experiment which proved radar was possible. A £1.4m lottery bid has been lodged to preserve the old radar station.

Enthusiasts have submitted an application to the Heritage Lottery Fund for grant aid towards a £1.4million project to preserve one of Britain’s most precious pieces of war-time history and turn it into a major attraction.

Most read

Most commented

Topic pages