World events:
The inflationary and supply challenges of the war in Ukraine eased over the latter part of the year, leaving the team to refocus on internal improvements. I am pleased to report that the Romix team worked tirelessly to minimise the impact on our customers and maximise the benefit of continual improvement.
The UK economy continued facing challenges, from which the company has been largely protected by its diverse customer portfolio, responsive team and solid financial structure.
Development and performance:
The business has performed well with strong sales growth at over 10% and an increase in product development activity. Innovation has been at the heart of the strategy, building additional business with existing customers and finding new routes to market for variations of tried and tested product lines.
People:
The consistency of the Romix team continues to be a major benefit to the business, however this year the team has been developed with talented additions in Engineering and Technical to prepare for the continued growth. The Board wishes to thank the team for their outstanding commitment to achieving the successes over the year and their continued support.
Market position:
Romix strives to live up to the mission to be “your trusted blending partner” for all its stakeholders: its customers, suppliers and the Romix team all play a key role in the success. Romix continues to create and supply bespoke blends to the bakery and home baking markets in an efficient and personal way. BRC AA certification for general manufacturing and gluten free continues to underpin the fantastic work from the Romix team.
Investment:
Romix's investment in process equipment and the team that operates it has continued to grow, with broader capabilities and efficiency generating new opportunities giving a continual pipeline in existing markets and some new closely related markets that are developed and planned to launch in the next 6 months.