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Creed Foodservice serves up 30 per cent growth in profits

Written by: Andrew Merrell | Posted 12 October 2020 9:10

Creed Foodservice serves up 30 per cent growth in profits

Family-owned and run Creed Foodservice has served up tasty results with more growth and an increase in operating profits of 30 per cent. 

Profits for its last full year of trading were £1,563,122 million, up from £1,196,610 million, with turnover up from £77.3m to £81.2m. 

The Staverton-headquartered foodservice wholesalers also increased the amount of money to “local charities” - from £61,000 to £65,000 and the created jobs – and it created jobs, with staff numbers risingfrom 362 to 383. 

“We continue to invest and develop our fleet of vehicle. Our aim being to make our vehicle as environmentally friendly and safe as possible,” said a statement by Chris Creed, chief executive of the business. 

There has been further investment in staff costs as it is crucial that we recruit and retain the best of people in order to be able to provide excellent customer service. We also continued to invest in out IT infrastructure, particularly ecommerce. 

He added: “Our ability to win and retain business is key in a competitive marketplace and central to driving quality turnover. 

To mitigate this risk we ensure that our service is second to none in the industry - giving customers a clear choice. 

The UK labour market is a key risk to the business as it is crucial that we recruit and retain the best people in order to be able to provide excellent customer service. 

There is an ongoing risk that the company willhave to pay upper quartile salaries to ensure quality of staffing. To mitigate this risk the company has recently enhanced its benefits packages. 

 

While Brexit is not a direct threat to the firm - 100 per cent of its customers are UK-based – it does not rule out a potential impact on its cost-base. 

Creed holds an organic certificate from the Soil Association and is a Soil Association Food for Life catering Mark-approved supplier. 

It has product accreditations including MCS (Marine Stewardship Council) chain of custody certification, RED Tractor accreditations for its beef and UK poultry products and is also RSPCA-assured pork. 

The business has the highest level STS accreditation as well as ISO 140001 Environmental Systems Certification and is BRC (global standard for food safety) accredited. 

As much as you admire the business – and why not - in case you are wondering just how they did it through the pandemic, these results are just published but are for the year ending December 28, 2019.