Aviagen Turkeys has reported an annual loss of £29.5m in the year ending 30 June 2023. This is compared to a profit of £14.8m during the previous year.
The company said the loss was primarily due to a currency exchange loss of £17.8m on loans in the year compared to an exchange gain of £15m in 2022.
Year-on-year sales decreased £4m, to £25.9m, which the genetics company attributed to the effect of avian influenza. The disease affected production and the ability to meet demand, which remained buoyant, the firm said.