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Fridays posts £2.6m loss in 2019 results

Eggs Stacked On A Pallet.

FRIDAYS has posted a dip in turnover and a pre-tax loss in its most recent financial results, covering the year to 31 December 2019.

The South East-based egg packer recorded a turnover of £47m and a pre-tax loss of £2.6m over the period.

See also: More UK poultry company reports

In 2018 sales were £52m, and pre-tax profits came to £1.1m.

The firm said fluctuations in egg prices and a “small reduction in volumes” had hit total gross margins and it expected those pressures to continue into 2021 – though it said trading conditions had improved in 2020.

Wage inflation and policy changes to business rates were also cited as increased costs.

Covid-19

Covid-19 has had an impact on the company’s chilled food products division, it added.

Fridays recently submitted planning to develop a free-range farm complex that will house close to 200,000 birds near Marden, in Kent.