fbpx

Sales and profits lower at Noble Foods

Hens perching on a wooden slat

NOBLE FOODS GROUP posted lower sales and profits in its most recent financial year, when compared with the 12 months before.

The egg packer recorded after-tax profits of £4.1m on turnover of £330.7m over the period, which covers the 52 weeks to 27 September 2019.

The year before profits were £5.8m and sales £344.1m.

Ebitda was £14.7m in the latest period, down from £18.1m the year before.

Employee numbers within the group were up to 740 on average, compared with 648 over the year before.

Directors said they were pleased with the results, explaining they were “as expected”.

“There is continuing competitive pressure, which always drives us to reducing our costs and improving our efficiencies.”

The results also make a note of the disposal of its interest in its US subsidiary in March last year.

Market pressure and avian influenza are listed as principal risks and uncertainties.

The directors add they expect the “general level of activity to remain consistent in the forthcoming year”.