Jobs boost expected as 2 Sisters reveal £150m investment
A major food group, which was founded in West Bromwich, has doubled its profits in three months – and will now invest £150 million to modernise its chicken factories.
There are hopes that the major investment could see 2 Sisters Food Group create substantial new jobs for the area.
The group, which is owned by Birmingham-based Boparan Holdings, has four of the 13 factories in its poultry division in the area and said the investment was to create world-class facilities for the division.
Yesterday it reported the strong growth in profits despite a 13.5 per cent fall in sales for the last quarter of its financial year.
Pre-tax profit for the three months to August 1 was up from £8.8m to £16.6m with sales down from £874.5m to £756.8m.
Full year sales for the group were down 8.2 per cent at £3.14 billion with operating profit slipping 34.3 per cent to £58.8m
Chief executive Ranjit Singh Boparan said: "Our aim is to build a better business. During 2015 we focussed on costs, efficiency, investment, innovation and deepening customer relationships."
He said the group was making a number of important investments with the aim of providing customers and consumers with innovative products, better value and reduced waste. He said the major £150m investment programme in the poultry business would 'completely revolutionise' its supply chain end-to-end.
"We are aiming to further align our poultry business with the needs of our customers, creating world-class facilities utilising state-of-the-art technology, and driving efficiency," he added.
The group currently employs 2,000 in the Black Country at its sites at Alpha Business Park, Smethwick, where it has two factories; Dial Lane, West Bromwich and Lincoln Street, Wolverhampton.
Mr Boparan said: "Our investment plans also include a further £55m development project for our meal solutions division, which will create further capacity across all four sites and put us at the forefront of developing the next generation of ready meals."
Since it was formed in 1993 the group has grown across the UK and now employs more than 23,000 staff and produces various types of food. Its customers include Aldi, Asda, Co-op, KFC, Lidl and Marks & Spencer.
