An increasing focus on brands and a revamped management structure have been pinpointed as two reasons why profits at the Real Good Food Company (RGFC) rose by 24% to £10.5M this year.
"We are already discussing the potential for more business with Morrison which will bring in good volume," added Totté.
RGFD finance director Mike McDonagh added that the group had reduced net debt by 13% to £25M.
500,000Mt of sugar
Peter Hough, sugar sourcing director at Napier Brown, outlined progress of a new sugar handling hub at Immingham which will supply the 500,000Mt of sugar used by food manufacturers across the M62 corridor.
Shareholders later approved the election to the board of Jacques d'Unieville from sugar refiner Omnicane. The link up will provide RGFD with access to Omnicane's operations in East Africa and Mauritius, the products of which have no import duties.
Looking ahead, Totté said the outlook for the business was positive and he hoped to be in a position to return dividends to shareholders "sooner rather than later".
"Trading performance for the first half of the year has been in line with the board's expectations, with year-on-year trends reflecting the level of planned investment.
"Underpinning all of this, I am continuing to drive the businesses to be more market-led, investing further in sales and marketing management to help realize the growth opportunities faster and more effectively," he added.
