The company turned over £1.72m during its 2014/15 financial year, up from £1.01m the year before, an increase of £705,000.
Additionally, it increased its output by 99% compared to the previous year.
These figures followed the expansion into a second production facility, which enabled the company to fill and pack 2.77m retail products in the 2014-15 year until August 31st across its three Nottinghamshire sites.
Phoenix is also the UK’s largest producer of cold pressed seed oils and pressed almost 4,820 tonnes of rapeseed in the 2014-15 year until August 31st, an increase of 130% increase on the 2013-2014 figure of 2080 tonnes.
Ben Guy, managing director for Phoenix Group, said he originally forecasted 50% growth last year.
He insisted this was achieved by focusing on the company’s strengths that it claims sets it apart from competitors.
“We work as partners with our customers, increasingly offering full ‘end-to-end’ supply chain management, and drawing on our expertise to make their whole production process smoother and more efficient.
“We’ve also changed the services we offer to suit the changing needs of our customers, moving into specialist high care manufacturing, growing our contract filling business and investing more than a quarter of a million pounds in state-of-the art machinery and infrastructure last year alone.”
These latest growth figures cover a year when Phoenix won new contract work from global brands like Vita Coco and up-and-coming SMEs like Moonshine Drinks.