Online retailer Graze has enjoyed a significant boost of sales over the past 12 months.
The company, which provides selection boxes of healthy, portion-controlled snacks, recorded a 31 per cent increase in sales to £52.7 million for the year ending February 28th. Graze sell its snack boxes directly to the consumer and has enjoyed strong growth in the UK with the latest financial result coming as a result of its expansion into the US market.
Graze made reported earnings before interest, tax, depreciation and amortisation of £12.2 million. It added that due to its restructuring in 2012 it was not able to publish its results prior to this date as it would not present a meaningful representation of the company's progress or be a fair comparison to this year's figures.
Commenting on the financial results, Anthony Fletcher, Graze's chief executive officer, spoke of his delight that the company has managed to exceed the £50 million barrier in terms of sales for the first time. The retailer has become a huge success in the US exceeding 100,000 customers by February 2014, despite only opening its door in November 2013.
Mr Fletcher added: "The core UK business continues to go from strength-to-strength and has been further boosted by the launch of new product ranges.
"Our launch in the US went smoothly and early trading has surpassed our expectations as graze fast establishes itself as the leading online retailer of healthier snacks."
Graze's innovative product range has been a huge hit with its customer base. Each box comes with four different snacks, tailored to the customer's preference, and can range from fruit and nuts, pumpkin seeds, a tasty, healthy brownie or a selection of spicy rice crackers. All the snacks are nutritious and in handy portions, ideal for people working during the day.