Culina’s big spend hits profits

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Culina’s operating profit fell from £2.2m to £1.6m for the year to December 2009 following the takeover of Wincanton Chilled and the opening of a new depot at Bristol.

However, it said that it had won 25 new accounts during the year, and as a result sales rose 25 per cent o £121.4m.

Chief executive Thomas van Mourik said: “This was a challenging year, operating in one of the worst economic environments in the UK for a long time. However, we successfully delivered on our expectations in terms of turnover, profit and cash flow.

“As to the year ahead we are cautiously optimistic as we expect to see the return on investment in the acquisition and integration of Wincanton’s chilled business.”

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