International sales helped results remain steady at the company behind the Mornflake cereal brand during its latest financial year.
Morning Foods has reported an international turnover, excluding Europe, of £9m for the 12 months to July 31, 2021, a rise from £6.8m, newly-filed documents with Companies House have confirmed.
The group’s total turnover went from £168.1m to £165m over the period, with its UK sales falling from £153.6m to £148.8m while its takings in the rest of Europe dipped from £7.6m to £7m.
Morning Foods, which can trace its roots back to 1675, also achieved a pre-tax profit of £7m, compared to the £7.7m it posted in the prior year.
The company’s products are sold by the likes of Morrisons, Asda, Ocado, Booths, Amazon and Home Bargains and is one of Crewe’s largest employers alongside Bentley.
Its Mornflake breakfast cereal brand was created during World War II and now includes a range of products including oats, porridge, muesli and granola.
A statement signed off by the board said: “The directors are satisfied with the performance of the group.
“The volatility of the price of grain, in particular oats, remains an ongoing and critical issue.
“As in previous years, the current period was impacted by the devaluation of the pound against a basket of foreign currencies.
“The wet autumn of 2019 and dry conditions during 2020 resulted in a large but poor-yielding harvest.
“The group continues to diversify its income across different product groups and sectors including grain milling, food processing, energy generation and supply, logistics and scientific services.
“Covid-19 created significant operational challenges which were overcome promptly and safely.
“Out experience during this time leads us to be reassured that an ongoing disruption arising from Covid-19 on the group can be managed effectively.”
The company has remained in the hands of the Lea family since it was founded.