PD HOOK GROUP has recorded a dip in sales and pre-tax profits in its latest results, covering the year to 31 October 2020.
The firm said market volatility caused by covid-19 significantly impacted demand for chicken and turkey, which made balancing supply and demand a challenge.
New government requirements for measures like self-isolation, shielding and safe working had also reduced the overall financial performance, the directors’ report says.
And aside from covid, worldwide commodity inflation increased margin pressure, with little opportunity to pass on price rises to retail customers.
Sales were £184m compared with £185m a year earlier, and pre-tax profits were £14.9m, down from £16.8m in the 2019 results.
Despite this, directors say that the business remained healthy and had “performed well during a challenging year”.
More than £13m was spent on capital programmes across the group to “ensure our facilities meet high welfare and environmental standards and have extended working lives”.
And the business also identified new sites or existing farms suitable for refurbishment to expand production.
The total number of employees in the group grew over the period from 934 to 945.