Healthy eating boom sweetens Glisten's profits
manufacturer Glisten have benefited from its focus on the healthy
options market.
In its financial report for the year ended 30 June 2007, the company reported sales turnover up 5 per cent to £58.6m (€86m) with year-on-year sales growth up 10 per cent, and operating profit up 18 per cent to £6.6m on 2006. "Our continuing focus on premium, healthier and more natural snacks and confectionery positions Glisten in exactly the right place to capitalise on the well-being trend in snacking and the rising demand for better quality products," said company chief executive Paul Simmonds. "This will help Glisten achieve growth and margin potential." This report comes a few days after the company announced a new joint venture with natural confectionery company Skinny Candy and the launch of its savoury snack division with the acquisition of Dormen Foods. "It remains our intention to seek further high quality businesses which complement our strategy of broadening the scope and scale of the Glisten group," Simmonds added. Sales within the confectionery division were down to £30.4m from £31.9m in 2006, which the company said was due to "temporary limitations" in the supply of its Nimbus products. However, Glisten hoped the future of this segment will be supported next year with the joint venture of Skinny Candy, the investment made in doubling the capacity of one of the Nimbus factory and the launch of two new SunMaid raisin products. The company said it has removed all artificial colours, flavours and trans-fats from all its products this year. In the fruit and cereal snacks division, which focuses on manufacturing cereal and fruit bars, protein bars and diet snacks, sales were up to £28.4m from £23.7m last year. "Creating new products with natural ingredients and unique formulations is the core strength of this division, and our customer and NPD reams have risen brilliantly to our internal vision of 'making Glisten famous for great-tasting better-for-you snacking products for today's consumer'." The report pointed out particular success within the weight control sector of the business and in retailers own sub-brands such as Sainsbury's 'Taste the Difference' and Boots' 'Delicious'. Glisten said, following the completion of nut-free status in the Halo Newport factory, the business has won a major new contract with "one of the world's largest food companies" starting October 2007. With the acquisition of Dormen Foods this week, Glisten created a new savoury snacks division to focus on better-for-you premium savoury snacks. "Dormen has an extremely wide customer base and excellent penetration of the foodservice and impulse sectors where Glisten is relatively under-represented. There is an obvious opportunity to sell-in out new branded snacking and confectionery offerings through these trade channels," the company added.
