Ringtons hails strong year despite rising costs and inflation

HISTORIC tea and biscuits favourite Ringtons has hailed a solid trading year with stabilising sales against a backdrop of rising costs and inflation.

- By COREENA FORD Business Reporter

The family firm from Byker, Newcastle, which is now in its 118th year of trading, imports and packages tea for major supermarkets, alongside its own brand of coffees, teas and sweet treats, which are sold online, in stores and through its traditional doorstep delivery service powered by a fleet of more than 250 vans and sales staff.

Turnover rose 8.3% to £87.3m in the period ending June 28, 2024, while operating profit increased 4.5% to £2.9m. Total shareholder funders increased 1.8% to £33.7m and staff numbers remained steady at 560.

Ringtons' directors told the Chronicle they were satisfied with the company's performance during the period, adding that retained profits continue to be invested in facility improvements.

Chairman Nigel Smith, who had been in the business for more than 50 years, officially retired at the beginning of the year, leading to his daughter Julia Thompson taking over as non-executive chair.