Protein Bars Manufacturer Experiences Complete Financial Loss
In the year 2024, two iconic confectionery brands, Cadbury and Grenade, experienced a mix of successes and challenges.
Cadbury, a company that has held a royal warrant as chocolate and cocoa manufacturers since Queen Victoria's reign in 1854, faced a significant setback when it was dropped from the list of royal warrants for the first time in 170 years at the end of 2024. King Charles III included Cadbury among a 100-strong list of companies and products that had their warrants withdrawn. However, the company's owner, Mondelēz International, expressed disappointment but remained optimistic about the future.
The financial details of Cadbury's performance in 2024 were recently revealed in the company's accounts filed with Companies House. The company's turnover jumped from £155.8m to £206.5m, a notable increase. Sales in the UK remained flat at £64m, but sales in Europe more than doubled from £49.3m to £103.6m. Sales in the rest of the world, however, dipped from £41.5m to £38.7m. Despite the dip in sales, the accounts show "significant investment" promoting the brand and its products to help with future growth.
Last week, City AM reported that Cadbury's pre-tax profit increased from £42.3m to £52.4m in 2024. This growth is expected to result in growth across the company's core markets and expansion into new territories.
On the other hand, Grenade, a brand founded by husband and wife team Alan and Juliet Barratt and acquired by Mondelēz International in 2021, faced a different set of challenges. The Grenade Proteinbars brand reported a pre-tax loss of £237,763 for 2024, after making a profit of £12.1m in the prior 12 months. The company's turnover declined from £93.2m to £80.5m over the same period. However, sales in Europe more than doubled from £4.6m to £103.6m, a promising sign for the brand's future.
Mondelēz International, the parent company of both Cadbury and Grenade, reported a turnover of £2.4bn for 2024 in the UK, a rise from £2.2bn. Despite a dip in pre-tax profit from £88.1m to £61m over the same period, the company remains optimistic about its future growth strategies.
In conclusion, while Cadbury and Grenade faced different challenges in 2024, both companies are looking forward to growth and expansion in the coming years. The significant investments made by both companies are expected to yield positive results, helping them to maintain their positions as leading brands in the confectionery industry.
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