Stowmarket malt company’s sales top £100 million

Alan Ridealgh
Alan Ridealgh

A malt company has recorded its second best profits ever after its sales topped £100 million.

Muntons, in Stowmarket, saw its turnover for the 2013 financial year rise to £101.8 million with pre tax profit of £3.5 million.

Alan Ridealgh, managing director, said it was driven ‘largely by price volatility’ in the cost of their raw materials. He said: “The profit this year was the second best in the history of our company and we move into the new year with a positive combination of stability and fresh energy.”

Meanwhile, the company reduced its carbon footprint by 18 per cent saving 11,900 tonnes of CO2 a year after ensuring all of its electricity is green sourced.

Dr Nigel Davies, manufacturing and sustainability director, said: “It is essential that any reduction in environmental impact is a real saving.”