Marlow Foods, the owner of meat replacement Quorn, has managed to increase its 2015 turnover despite difficult market conditions. Its profit did drop however.
Ambitious growth plans
The company’s total turnover grew 5.2 %, from 150.3 million pounds in 2014 to 158.1 million pounds (185 million euro) in 2015. Despite this positive evolution, profit did drop from 25.2 million pounds to 17.2 million pounds (20 million euro).
Monde Nissin Corporation, Marlow Foods’s owner since November 2015, has ambitious plans for Quorn: it has launched the brand in Spain, France and Italy and targets a one billion dollar turnover (900 million euro) within the next ten years.
One contributing factor is the Brexit, as the resulting weaker pound has already boosted Quorn’s export by 15 % in the first half of the year. Quorn has asked for clarity in regards to the future trade relations with the European Union, but nonetheless, the brand expects a 10 % growth for this year alone.
