Snacking giant revenues up but was affected by ‘inflation, currency volatility, pressure on household budgets’
The Jaffa Cake production line at the McVitie’s plant in Stockport, which is owned by Pladis(Image: Three Crows & Co)
McVitie’s and Jacob’s owner Pladis has vowed to continue investing in its factories and brands despite seeing a fall in profits as inflation and economic uncertainty continue to bite.
The global snacking giant reported revenues for 2025 of £3.3bn, up 1.2% on 2024. Operating profits fell from £344.4m to £301.6m, while overall pre-tax profit fell from £181m to £49m.
Chairman Murat Ülker said: “Our external context in 2025 was shaped by commodity inflation, currency volatility, pressure on household budgets, and intense competition across our markets.” But he said revenue growth showed “continued progress across both mature and growth markets… demonstrating the enduring relevance of our brands.”
He said: “Through a focus on productivity, waste reduction and careful management of operating costs, we continued to strengthen the resilience of our business.”
And he added: “Alongside our heritage, we continue to invest in innovation, technology and new capabilities so that our brands remain relevant to changing consumer expectations while staying true to the qualities that made them trusted in the first place.”
The year also saw Pladis commit to a £68m investment at its UK sites. That included a £21m investment at its Jaffa Cake factory in Stockport, as well as a £33m overhaul of its Jacob’s Cream Crackers bakery in Aintree, Liverpool. The company also investment £2m at its Carlisle biscuit factory, creating dozens of jobs.
The group also invested £8.6m in its Cairo site and another £4.6m in a BN production line in France. 2025 also saw Pladis mark the 100th anniversary of McVitie’s Chocolate Digestives.
Sridhar Ramamurthy, chief financial officer at Pladis, said: “Pladis delivered a resilient performance in 2025, growing revenue to £3.3 billion and maintaining market-leading positions in the UK, Türkiye, Saudi Arabia, Egypt and elsewhere. This reflects the enduring strength of our branded portfolio and the focus and commitment of our teams around the world. It was achieved in a year that tested every part of the food industry – from commodity inflation and currency volatility to broader macroeconomic headwinds.
“Our private, family-owned structure gives us the freedom to take a long-term view, beyond the reporting cycle. That perspective shapes how we invest in the business: in 2025, we invested £100 million in capital expenditure to support efficiency, capacity and resilience, while continuing to innovate across our priority brands.
“We are building from a strong commercial platform and our priorities remain clear: to keep building our brands, bring innovation to scale, accelerate digitalisation and manage cost, cash and capital with rigour. That combination of long-term investment and financial discipline is central to strengthening our competitiveness and creating value over time so that we can continue bringing happiness with every bite.”
Pladis was founded in 2016 and today employs more than 15,000 people in more than 110 countries. Its brands include Carr’s, Flipz, GODIVA, Ülker and BN, and it bills itself as “the world’s fourth-largest sweet biscuit manufacturer, the seventh-largest chocolate manufacturer and the eighth-largest savoury biscuit manufacturer”.
Since the year end, Pladis has continued its efforts to grow the McVitie’s brand in China, which it sees as a key growth market.
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