Kestrel reports "encouraging" growth in competitive markets

Kestrel Foods, the Northern Irish manufacturer of snack products, has reported an "encouraging" performance in what it describes as a "highly competitive" sector. Based at Craigavon in county Armagh, Kestrel Foods has been producing dried fruit, nuts and the company's Forest Feast portfoliowhich is now made up of more than 150 unique flavour combinations that are available in more than 36 countries worldwide. It also ownsthe Acti-Snack brand. For the year to 30 April 2015, Kestrel reported turnover of ?12.1 million compared to ?11.5 million in 2014. However, pre-tax profit fell from ?903,770 to ?653,418. The family-owned and managed business said its performance during 2015 had been "encouraging" and attributed its turnover increase to a "comprehensive marketing and advertising campaign" both for its Forest Feast and Acti-Snack brands. "The dried fruit and nut sector remains highly competitive," it added. "The aggressive pricing of supermarket own brand products continues to provide a benchmark for value products which has highlighted the need for brand development to enable the premium products to command a premium price." The company said it had undertaken a period of significant capital investment in new process machinery focused on future growth. "Trading conditions over the past 12 months have been difficult given the high price of commodities. However, the business has been able to identify new opportunities and as such the directors are confident of significant growth in the company going forward and theinvestment which has been undertaken is commensurate to this." Kestrel managing director Michael Hall recently the revealed plans to invest more than ?750,000 in a move designed to boost its export sales and create jobs. At the time, Mr Hall said the investment was being made after a "significant" 2014 for the company.