Innocent cuts losses as sales jump
FRUIT drink maker Innocent has cut its losses by two-thirds after pushing up its annual sales by 7 per cent to £112 million, writes Scott Reid.
According to accounts filed with Companies House, the smoothie specialist cut its deficit to 3.6m last year from 9.1m in 2008.
The reduction in losses and rise in sales were helped by a major marketing campaign. The firm is also understood to have made some adjustment to its headcount.
Innocent, which was founded in the late 1990s by Cambridge graduates Richard Reed, Adam Balon and Jon Wright, sells more than two million smoothies and yoghurts a week, as well as a range of "veg pots". Soft drinks giant Coca-Cola has a sizeable stake in the business and provided a funding deal for it earlier this year.
Commenting on the results, Innocent's head of finance, Jess Coles, said: "We're doing well. We're a premium product, but we're also a healthy product and people recognise that."