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Our proven and sustainable business model, centred on manufacturing fresh prepared food, is underpinned by our customer centric approach and deep understanding of consumers’ needs, which drives long-term sustainable value for our shareholders.

1 Strengthening our UK leadership position in Fresh Prepared Food (‘FPF’) to drive returns

  • Clear market leader with unrivalled scale, category leadership and breadth
  • Strategic customer partnerships with leading UK grocery retailers
  • Deep market insight and strong innovation capabilities
  • Resilient supply chain and operational excellence underpin superior performance

2 Capitalising on significant growth potential in US and China

  • Accelerating demand for FPF, underdeveloped in the largest global food markets
  • Enhancing US platform with renewed focus on delivering sustainable profitable growth
  • Well-invested national footprint in China with significant headroom for growth
  • Leveraging Group expertise to drive growth and enhance competitive advantage

3 Focusing on building a more sustainable business

  • Dedicated Trusted Partner ESG strategy with clear and measurable commitments across three focus areas
  • Food waste and carbon emission targets within our bonus metrics help to embed ESG across the business
  • Climate goals verified by the Science Based Targets initiative provide further focus on decarbonisation
  • Continual progress against our objective of providing a safe and inclusive environment for all of our colleagues

4 Driving long-term value creation underpinned by strong financial position

  • Robust financial performances in the face of macroeconmic headwinds
  • Track record of effectively mitigating industry-wide challenges through multiple internal levers
  • Clear capital allocation policy delivers value-enhancing capital spend and reduced leverage
  • Strong cash generation enables a progressive dividend policy, delivering returns for our shareholders


Financial Highlights


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