The food giant behind brands including McVitie’s and Jacob’s has seen revenues soar past £3bn – helped by innovations including “Dubai chocolate” and cola-flavoured Jaffa Cakes.
Pladis reported revenues of £3.2bn for 2024 – up 17% on 2023. Pre-tax profits rose from £131m to £181m, while Pladis’ preferred EBITDA profit measure stood at £487m for 2024 – up on £439m in 2023 – which the group credited to “strong operational discipline, brand-led growth and capital efficiency” in a tough economic climate.
Pladis, which employs 16,000 people worldwide and works in more than 110 countries, said new product successes over the year included the “cola bottle” Jaffa Cake flavour.
Meanwhile it said that in just four months, its Ülker Çikolata arm in Turkey developed and launched a chocolate bar inspired by the social media trend for Dubai-style pistachio-filled chocolate. Production began in August 2024 and the company shipped 3,176 tonnes by year-end.
The company also said its McVitie’s White Digestives also “exceeded all sales forecasts”.
Other Pladis products include Go Ahead fruit snacks, Sultana biscuits – “the number one fruit biscuit in the Netherlands”, and French smiley-faced BN biscuits. It also owns Godiva chocolate and Flipz pretzels.
Earlier this year, Pladis said it was investing £68m in its UK operations, including £21m in a new chocolate moulding line at the McVitie’s Jaffa Cake plant in Stockport and a £33m refit at the Jacob’s Cream Crackers bakery in Aintree, Liverpool. The company also invested in its Carr’s plant in Carlisle, which it called “the world’s oldest biscuit factory”, and has sites in Halifax, Leicester, and Harlesden in North London.
Pladis also celebrated royal recognition in 2024, securing a Royal Warrant for its McVitie’s and Jacob’s brands in the UK. Its brands have held UK warrants since 1841, and Pladis also holds a warrant to the Dutch Royal Household.
In Pladis’ annual report, chairman Murat Ülker said the group’s results “outpaced many in our peer set”. He said: “We achieved this momentum despite a challenging global environment. From cocoa price inflation to currency fluctuations, we faced significant headwinds. Yet, by working as One pladis—united by our purpose—we navigated complexity with agility and determination, always keeping front and centre our commitment to delivering happiness.”
Sridhar Ramamurthy, chief financial officer at Pladis, said: “2024 represented another year of strong progress for Pladis as we cement our position as one of the fastest growing global snacking companies. Our iconic brands continue to delight billions of consumers each year, and our focus on innovation means we have the agility to respond to consumer desire for both indulgence and healthier snacking.
“Our performance is testament to the hard work and dedication of our 16,000 colleagues and is a great achievement given the challenging macroeconomic environment, including cocoa price inflation and currency fluctuations.
“While maintaining financial discipline, we are investing now to fuel our growth tomorrow, including in digital infrastructure, research and development and brand advertising.
“Looking ahead, we have a clear strategic growth plan which underpins our ambition, enabling us to capitalise on our leading market positions and the unique growth opportunities available to us as we harness the momentum we are building.”
