Pre-tax profits have almost doubled at an independent family-owned banana ripener and supplier in Bedfordshire despite a marginal decline in turnover.
S H Pratt & Co, based in Luton, was established in 1960 and currently ripens an average of 21.6 million bananas a week.
The company describes itself as one of Europe's largest players in the areas of fruit import, ripening and distribution with more than 200 staff and a ripening capacity of about 3,900 pallets. The business also has its own fleet of vehicles, allowing it to deliver its produce all over the UK.
The latest financial accounts of SH Pratt & Co (Bananas) Ltd have revealed revenue of £121.6m for the year ended October 2015. This was slightly down from £122.9m a year earlier.
But pre-tax profits grew to £2m from about £1.1m in 2014 following a drop in sales costs and an increase in other operating income.
In the annual report at Companies House, the company said it has replaced its current fleet by investing in new units and dual compartment trailers, enabling it to diversify into supply chain solutions.
It has also set up Kinship Logistics as a subsidiary in a move to "provide a complete service solution".
