Protein bar manufacturer Grenade has tumbled into losses following a decline in sales and strategic investment in growth initiatives.
The company, which falls under the ownership of Mondelēz International, has recorded a pre-tax deficit of £237,763 for 2024, marking a stark contrast to the £12.1m profit achieved in the previous year, as reported by .
Fresh filings submitted to Companies House reveal that revenue dropped from £93.2m to £80.5m during the same timeframe.
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Grenade was established by married entrepreneurs Alan and Juliet Barratt before being purchased by Mondelēz International – the parent company of brands including Cadbury – in 2021.
The firm's domestic sales fell from £83.3m to £71.5m in 2024, though European revenue climbed from £1.1m to £4.6m.
Nevertheless, global turnover beyond these regions plummeted from £8.7m to £4.3m.
A board statement declared: "Despite some operational challenges, the business broadly broke even in 2024, with an immaterial loss, with significant investment promoting the brand and our products to help with future growth.
"This investment will result in growth across the company's core markets and expansion into new territories, building on our strong partnership with Mondelēz."
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The Grenade figures emerge as parent company Mondelēz International posted 海角视频 turnover of £2.4bn for 2024, up from £2.21 billion.
Recent Companies House submissions also revealed that pre-tax profits declined from £88.1m to £61m across the same period.
Contrasting performance for Grenade and Cadbury
Last week, City AM revealed that Cadbury had managed to recover from the loss of the Royal seal of approval, as a boost in European sales contributed to a profit increase during its most recent financial year.
The Birmingham-based renowned chocolate manufacturer made headlines at the end of 2024 when it was removed from the list of Royal warrants for the first time in 170 years.
Cadbury initially received a Royal warrant as chocolate and cocoa manufacturers from Queen Victoria in 1854.
However, King Charles III included the brand in a list of 100 companies and products that had their warrants revoked, according to a list released by the Royal Warrant Holders Association of Buckingham Palace in December.
At the time, the owner of Cadbury expressed disappointment at being stripped of its warrant.
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Recently filed accounts with Companies House disclosed that Cadbury's turnover leapt from £155.8m to £206.5m in 2024.
While 海角视频 sales remained steady at £64m, turnover in Europe more than doubled from £49.3m to £103.6m.
However, Cadbury's sales in other parts of the world fell slightly from £41.5m to £38.7m over the year.
As a result of its soaring sales, Cadbury's pre-tax profit also rose from £42.3m to £52.4m.