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Sales up but profits down for Gott Agri Synergy

GOTT AGRI SYNERGY, the parent company of Stonegate, grew sales by £8m to £90.7m in its latest financial results.

But pre-tax profits came to £74,000, down from £5.7m the year before.

The latest results cover the year to 29 September 2018, with a single director – A D Gott.

In the strategic report, the company says it operates in free-range and organic egg production having ceased caged-hen production in “early 2016/17”. It says this is in line with trends in both consumers and the company’s customers.

It adds that it considers exiting caged-egg production to reduce the risk of pressure against egg production.  

Mr Gott says he considers the group to be in a strong financial position, “given net assets of £8.5m with net current assets of £(2.1m) as at 29 September 2018”.