Glenrath Farms, Scotland’s biggest egg producer, has reported a huge increase in profits in the year ending 31 May 2024. Pre-tax profits were £21.36 million during the year, up from £8.65 million the previous year.
Revenue for the year was £90.96 million, up 17% from £77.98 million the year before.
The company’s chairman William McKelvey, wrote in his report accompanying the financial results that it had been a successful year. Three years ago the board took the decision to expand production capacity when many other producers took the decision to depopulate due to poor returns. As a result, the company has been able to capitalise when demand for eggs outstripped supply.
He said management had also kept a “razor sharp focus” on cost control. There had also been efficiency savings in the processing and packing operations of the business, McKelvey said.
He added that despite the good year, he remained cautious about the future prospects for the business, due to factors including the continuing shortage of labour, the unpredictable international political and trade landscape, and the threat of avian influenza. “Equipment supply issues are an increasing concern,” he added.
“I have no doubt that through the leadership of my fellow directors, the skills of our excellent management team, and the loyalty and efforts of our whole workforce, we will rise to meet any challenges and continue to grow the company,” he wrote.