FDBusiness.com

South Wales-based Bon Bon Buddies, a supplier of character and branded confectionery, has announced record-breaking financial results for 2015-16, following the expansion of its geographical footprint and a raft of new contracts. The Welsh confectioner, which produces and distributes a mixture of licensed and own-brand products, enjoyed a 13% increase in turnover to £44.4 million and a 125% increase in profit before taxation to £2.04 million in its year ending 30 April. In the same year, the business achieved its five-year goal to make year-round sales, as opposed to seasonal sales, account for 60% of the business’s revenue.

The record-breaking results follow an ambitious growth plan that saw Bon Bon Buddies implement new distribution models in the Nordics and Germany, which aided European sales resulting in a 12% increase. In the same year, the confectioner opened its first Asia office in Hong Kong, which opened doors to the Chinese market for the first time and contributed to a substantial boost in Rest of the World sales by 165%. In the same period, UK sales increased by 13%.

Pictured (L-R): Bon Bon Buddies managing director, Justin Thomas; group sales, licensing and marketing director, Graham Dyer; and finance director, Joanne Manfield.

The confectioner also secured multiple licensing contracts with global brands, such as film giant Universal Studios and Swedish confectioner, Cloetta. Meanwhile, Bon Bon Buddies’ own-brand products enjoyed a healthy 13% boost, with sales of its flagship mega sour Brain Blasterz range increasing by 33%.

“This financial year has been full of exciting firsts: we’ve opened new distribution centres in Europe to grow our presence on the continent and have also dipped our toe into the Chinese market, which is already showing outstanding results for us,” says Justin Thomas, managing director of Bon Bon Buddies. “Each year, we continue to strengthen our position as Europe’s premier provider of character and branded confectionery. To have achieved our five-year strategy in just one year shows that our business approach is working and we’re now thinking bigger to accommodate our impressive growth trajectory. We have a healthy relationship with our international licensors, suppliers and distributors and this is testament to the success we’ve experienced over the last year.”

Bon Bon Buddies also reaps the benefits of increased synergy across its entire business as a result of an 18 month-long employee engagement and development strategy, to empower staff to work together to achieve the business’s goals.

Established in 1993, Bon Bon Buddies has grown to become Europe’s premier provider of licensed and own-brand character confectionery to more than 40 countries worldwide, with eight dedicated European sales and logistics facilities with further distribution in Central Eastern Europe, China, South East Asia, the Middle East and the US.