Annual Report
Our headline results
Our CEO introduces highlights from our most recent financial year.
For all the detail of our financial performance for 2025/26 please refer to our RNS which you can find here.
Colin Day, Group Chair:
"The Company delivered another strong trading performance, driven by our leading brands, and further progress against our growth strategy. Consistent delivery against this proven strategy, together with the future opportunities we see across each of our strategic pillars, gives the Board confidence in the Group’s future growth prospects."
Alex Whitehouse, Chief Executive Officer:
"Our continued focus on delivering profitable branded revenue growth has driven another year of strong earnings progression. This consistently strong performance, further delivery against our proven growth strategy, and the cash generating capacity of the business has enabled us to increase the dividend by 20% this year and we also currently plan to introduce an interim dividend from FY26/27."
Delivering against our five strategic pillars
Continue to grow the UK core
Investing across our supply chain enables us to enhance efficiency and automation across our manufacturing operations. We also allocate investment to manufacture new products from our innovation programme and to enhance the safety and working conditions of our colleagues. We invested £51.9m this year, an increase of 25%, in the third successive year of increasing investment.
Supply Chain Investment
Investing across our supply chain enables us to enhance efficiency and automation across our manufacturing operations. We also allocate investment to manufacture new products from our innovation programme and to enhance the safety and working conditions of our colleagues. We invested £51.9m this year, an increase of 25%, in the third successive year of increasing investment.
Expand UK into new categories
Many of our brands are leaders in their categories, with strong brand equity. We leverage this strength, and our proven Branded Growth Model, by launching into new, adjacent, product categories. Sales from new categories increased by 37% over the year, including the launch of our new FUEL10K yogurt and granola pots as we entered the chilled category for the first time.
Build international businesses with critical mass
Building sustainable overseas business units with critical mass, by applying our brand -building capabilities and applying them to focus on overseas markets including Australasia, North America and Europe. Our international business delivered revenue of £50.4m in the year at constant currency, as we made further strategic progress across our key markets.
Inorganic opportunities
We continue to look for branded acquisitions where we believe we can drive significant value through leveraging our Branded Growth Model. This year, we acquired our third brand, Merchant Gourmet, a premium, healthy, convenient meals business. All our acquired brands; The Spice Tailor, FUEL10K and Merchant Gourmet delivered double-digit revenue growth in the year.
Strategic Report
Annual Report - section by section
This section covers our business model, strategy, risks, development, performance, position and future prospects, including relevant non-financial information.
Sustainability Report
Annual Report - section by section
Read about our latest progress with our sustainability strategy, our Enriching Life Plan
Governance report
Annual Report - section by section
The governance report provides further information on our corporate governance practices and structure.
Financial statements
Annual Report - section by section
The financial statements section provides our consolidated and company financial statements, as well as our sustainability disclosure tables.
Strategy in action - Growing the core with Ambrosia Deluxe
One of the examples of a more premium offer in our portfolio, the Ambrosia Deluxe range grew by 45% in FY24/25.
Sustainability in action – wholegrain oats
With the majority of their oats sourced directly from trusted local producers within a 60-mile radius, Richardsons has been supplying our Ambrosia Creamery in Lifton in Devon with high-quality wholegrain oats, to be used in our delicious Ambrosia ready-to eat porridge pots.
Strategy in action - Building international businesses with critical mass
We enhanced the application of our Branded Growth Model in Australia and secured our first US listings for The Spice Tailor.