Weetabix makes remarkable achievements in Q1

The investigation team from Bright Food (Group) Co., Ltd. was deeply impressed by the one-week research work in Weetabix. As one of the overseas subsidiaries of the Group, Weetabix, under the unfavorable market conditions against the background of sluggish economy in Europe and America, made remarkable achievements in Q1 through constant efforts on product innovation, price adjustment and cost control: EBITDA reached GBP 27.5 million, accounting for 115 percent of the anticipated revenue of GBP 24 million. Its North American business, which had suffered losses for a long period, also made profits and showed sound performance in the market: sales volume of Q1 reached USD 41.2 million, accounting for 104 percent of the anticipated revenue of USD 39.5 million; and EBITDA reached USD 2.3 million, accounting for 110 percent of the anticipated revenue of USD 2.1 million.

Directors of subsidiaries who were members of the investigation team said that Weetabix, full of passion and in high spirit, showed high management level in research and innovation, marketing, production management, process optimization and corporate governance, provided rich and precious experience for them to develop their own business in the future. (Reported by Wang Zan)