Growing sales in the Middle East helped Macphie of Glenbervie increase turnover by 6.7% to £47.6million in the year to the end of March.
The food ingredient firm also reported stronger trading for its UK service operation, boosted by consumers’ increased appetite for casual dining and pub food.
Family-owned Macphie, which is headquartered on the 2,000-acre Glenbervie Estate, near Stonehaven, saw pre-tax profits surge by nearly 33% to £4.66million, from £3.51million previously.
Figures released by Companies House yesterday also showed operating profits grew to £4.64million, from £3.69million in 2014/15.
In his review of 2015/16, chairman and chief executive Alastair Macphie said relatively stable raw material costs, efficiency initiatives and benefits flowing from significant investment in the business all contributed to the improved financial performance.
He added: “Sales growth was realised in all our traditional channels. In the UK, foodservice continues to be the lead growth channel, with the casual dining and pub food sectors growing strongly due to9 increased appeal with consumers.
“Internationally, as we forecasted at the end of last year, business in the Middle East has grown strongly and more than compensated for continuing suppressed spend in southern Europe.
“We have also undergone a number of changes in customer and product mix in our contract manufacturing business, which will deliver significant growth in the year ahead.”
Mr Macphie said the uncertain economic climate in the wake of the Brexit vote and currency fluctuations “could present a challenge and opportunity internationally,
“The board will maintain a close watch on developments and take the appropriate actions to minimise any adverse impact on the business.”
Macphie makes ingredients used by bakers, pubs, restaurants, hotels, ready-made food firms and caterers.
It employs more than 270 people across two sites located in Glenbervie and Tannochside, near Glasgow.
The company was founded as a wholesale business by Alister Macphie, the current chairman and chief executive’s great uncle, in the 1920s.
