CONFECTIONERY group Glisten has recorded a 32 per cent rise in profits following three major acquisitions in six months.
The company, which bought Penguin Confectionery from House of York, in North Shields, earlier this year, also reported turnover up by a third in its preliminary results for the year, published yesterday.
Glisten said the results represented a record year for turnover and profits, with like-for-like sales up 14 per cent.
Profit before tax and goodwill rose to £1.8m, up by 32 per cent on the previous year.
Glisten paid £428,450 for Penguin from House of York in March.
Group chairman Jeremy Hamer said the acquisitions were part of the company's strategy of building a speciality food manufacturing group focusing on niche markets.
Mr Hamer said: "Results have clearly demonstrated our determination to deliver strong organic growth thro-ugh our acquired businesses and we are confident this trend will continue."
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