21 May 2018, 08:46 AM
  • Audited accounts at independent retail farm shop operator, Cobbs Farm Co Ltd, show that company has finished the year with "exceptional growth in sales and operating profit"
Cobbs Farm Co reports strong profit growth despite “challenging retail environment”

Cobbs Farm Co. Ltd, which owns and operates seven destination-led retail and hospitality businesses across the UK, has been able to report annual like-for-like group sales
growth of just over 10 per cent.

These results have gone on to provide the group with earnings before interest, taxes, depreciation and amorization of £561,000 – up 5 per cent on the previous year. Annual sales in 2017 were £7,606,000, a more than 10 per cent increase on 2016.

Tom Newey, chief executive for the group said, “The Group continues to go from strength to strength against the backdrop of a challenging retail environment and we are particularly pleased with the continued annual performance of the business. Whilst 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.

At a time when all we seem to hear about is the Armageddon on the high-street, we feel in a prime position to be able to cater for what we see as a now established and ever-growing set of customers who truly 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.”

Plans for 2018 include the completion of a new 7,000sqft destination retail site, Cobbs at Englefield near Reading, off Junction 12 of the M4 in Berkshire. The company has
also invested in new production facilities for its expanding own-label products. The company is also actively looking for new sites to add to its portfolio.