Oakland Farm Eggs has reported a 43.6% increase in turnover to £87.9 million in the year ending 31 March 2023. The company reported profit after taxation of £2.6 million, compared to a loss of £7.8 million the year before.
Oakland Farm Eggs is a large producer of pullets and eggs. It produces its own colony cage eggs and buys in free range and organic eggs under contract with outside producers.
The company is currently in the midst of a project to convert much of its colony production to barn, in response to retailer commitments to only source eggs from cage-free hens. It said the company would soon have in the region of one million cage free birds. The directors said the company was well placed to face market challenges due to inflation, the war in Ukraine affecting feed prices, and the threat of avian influenza.
The firm has broadened its range of customers in recent years and now supplies with eggs discounters, retailers, wholesale and foodservice. “This change in direction has seen an improvement in egg prices which has is providing stability going forward.”