Innovation powers pladis to record £3.23bn sales
pladis, the global snacking group behind household brands like McVitie’s, Flipz, and GODIVA, has cemented its position as one of the world’s fastest-growing snacking companies, reporting record annual revenue of £3.23 billion for the year ended December 31, 2024.
A 17 per cent year-on-year revenue increase was driven by a keen focus on product innovation and market agility, particularly in capitalising on viral consumer trends.
The financial performance was robust across the board, with Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) climbing 11 per cent to £486.9 million. pladis attributes the profitable growth to strong operational discipline and, crucially, brand-led growth fuelled by calculated risk-taking in new product development (NPD).
A core pillar of the group’s success in 2024 was its ability to refresh iconic products with disruptive, trending flavours and formats. Highlighting this strategy were two notable successes:
- Jaffa Cakes Flavour Fusion: pladis broke with tradition by venturing beyond fruit flavours for the first time in the Jaffa Cakes brand history, launching the limited-edition ‘Cola Bottle’ flavour. This distinctive innovation, designed to appeal to younger consumers seeking flavour combinations, helped drive brand engagement and sales.
- Viral trend adaptation: demonstrating speed-to-market, pladis’s Ülker brand in Türkiye was one of the first major chocolatiers to bring the global “Dubai chocolate trend” — a viral social media sensation — to the mainstream. The company quickly developed and shipped 3,176 tonnes of the product in the final four months of the year, showcasing an ability to translate digital buzz into massive commercial volume.
Sridhar Ramamurthy, chief financial officer at pladis, emphasised the importance of this strategic agility.
“Our iconic brands continue to delight billions of consumers each year, and our focus on innovation means we have the agility to respond to consumer desire for both indulgence and healthier snacking,” he said.
Despite navigating significant macroeconomic headwinds, including cocoa price inflation and currency fluctuations, pladis maintained a forward-looking investment strategy. The company confirmed that it is actively “investing now to fuel our growth tomorrow.”
This commitment includes substantial investment in digital infrastructure, research and development (R&D), and brand advertising. pladis recently announced a separate £68 million capital injection specifically to bolster its UK operations, earmarked for modernisation, automation, and infrastructure upgrades — including the installation of advanced robotic production lines at sites like the Jaffa Cake plant in Stockport.
