Turnover past the £20m mark at a Leicestershire-headquartered drinks company during its latest financial year, newly filed accounts have revealed. It comes as its US sales are expected to reach £10m by 2022 after the business signed a new distribution deal.
Accounts for Belvoir Fruit Farms Drinks Holdings show the company achieved a turnover of £22m for the 12 months to 31 December 2018, up from £18.5m in 2017.
Its pre-tax profits also increased from £1.4m to £1.5m.
Based in Bottlesford, the company has been making its fruit cordials and presses since 1984.
It recently secured a deal with a leading distributor in the US with help from the Department for International Trade (DIT).
Belvoir Fruit Farms, which has major operations in Lincolnshire, began exporting in 2000, but in the last two years has seen international sales rise sharply.
The company is now growing at 45 per cent year on year as an international business and are exporting to 44 countries in total.
Key markets for the company are Australia, France, the UAE and Russia, and now the US.
Managing director Pev Manners said: “Throughout our 35 year history, Belvoir has stayed true to its values; honesty, quality and enjoyment as well as a commitment to using premium natural ingredients and proudly no artificial flavourings, colourings, preservatives or sweeteners.
“Exporting is now a huge part of our story and DIT has been an integral part to this. We were introduced to the DIT trade team in New York and have been working with the team for some time, they have helped to promote our brand to US food retailers at several events using different media.
“The USA is a great export destination for our products, we have seen a large turnover increase since we began exporting and we look forward to building on this further in the future.”
Antony Philipson, HM trade commissioner for North America, added: “I am delighted that Belvoir Fruit Farms are enjoying such great success exporting their handmade drinks to the USA, the world’s largest economy and the UK’s most important trading partner.
“With exports reaching £100b last year, British businesses are increasingly choosing the USA as a destination for their high-quality products.
“The Department for International Trade stands ready to help inspiring SMEs such as Belvoir Fruit Farms continue to fly the flag for Great British produce.”
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