Strong year for Cobbs Farm despite “challenging environment”
Cobbs Farm Co has reported that it will finish the year showing “exceptional growth in sales and operating profit” following its audited accounts.
The UK’s largest independent farm shop retailer – which owns seven destination-led retail and hospitality businesses across the UK – said it has been able to report annual like-for-like group sales growth of just over 10%.
The results provide the group with EBITDA of £561,000 – up 5% on the previous year. Annual sales in 2017 were £7,606,000 which was a more than 10% increase on 2016.
Chief executive of the group, Tom Newey said the company continues to go from strength to strength despite a “challenging retail environment” adding that he is pleased with the continued performance of the business.
“While we’ve seen pleasing growth in all areas of the business, these excellent numbers have been helped by particularly strong growth in sales in our restaurants as well as our fresh meat counters in store,” he said.
Newey added that the business felt in a prime position to cater for it sees as a now established and ever-growing set of customers who care about what they eat and value in-store experiences.
“2018 will see us continue to focus on driving the customer experience in store, ensuring we remain market leaders in our field,” he said.
Other plans for the year include the completion of a new 7,000 sq ft destination retail site called Cobbs at Englefield near Reading, off Junction 12 of the M4 in Berkshire. The company is also actively looking for new sites to add to its portfolio.
The company said it has also invested significantly in new production facilities for its increasing own label products.