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Pandemic hits sales at Fridays chilled food division

eggs on a tray in a farm

TURNOVER at Kent-headquartered egg packer Fridays dropped in its latest results, with the firm posting a £198k pre-tax loss.

The latest financial report lodged covers the year to 31 December 2020, and says that, despite the ‘disappointing’ loss, the company’s cash position had improved.

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Sales were £43m, compared with £47m a year earlier.

Over the 12 months the company said it benefitted from an improved retail egg market following covid-related restrictions constraining out-of-home dining.

But that was offset by losses from a 70% drop in turnover in the company’s chilled food division, which supplies foodservice customers.

‘Uncertainty’

The directors report said: “Uncertainty from the ongoing covid-19 pandemic, low egg prices, high feed costs and staff shortages make for challenging times ahead.

“The company has also begun a transition from colony flock production to free-range and barn systems to be completed in the next couple of years.

“This will reduce our flock size and we have plans to expand our free-range capacity and contract producer base to mitigate this.”