Despite profit being down by £2.4 million to 31st March 2017, Lily’s Kitchen has reported year-on-year sales growth.
The pet food producer recorded a 36 percent sales growth to 31st March 2017.
Lily’s Kitchen stated that losses were due to “investing heavily in the business, particularly in its people, systems and marketing in order to build and grow existing channels and open up new distribution.”
The business is expected to return to profit by the end of the next financial year.
Comments Lily’s Kitchen CEO and founder Henrietta Morrison: “We continue to experience significant growth and have decided to invest heavily in the business to support this.
“As a result we have performed strongly in all retailers, not only delivering impressive topline growth but also delivering incremental category growth for our retail partners.
“We are excited to be taking on 30,000 new points of distribution in the UK and internationally, across over 2000 new stores in 2018, which will bring new consumers to the category and increase brand awareness. Our mission is to provide proper food for pets so new distribution points will help us unlock this.”