Annyalla Chicks UK has reported an annual profit of £1.3m in the year to 31 December 2022. Turnover for the year was £47.7m.
Turnover is up on 2021, when the independent hatchery firm recorded sales of £38.8m. But profits are down on 2021, when the figure was £1.5m.
The tighter margins are a result of increased costs for feed and energy, the company said. “The company has hedged a large proportion of its feed through 2023 and have utility contracts in place across different areas of the business which has shielded the company from the volatile energy market place.”
The company increased prices during 2022 for its chicks and these have helped negate some of the cost increases it has faced. “The company will continue to monitor and move as required to ensure a gross margin that is necessary,” it added.
Annyalla Chicks UK is a subsidiary within the group controlled by Enfield Broiler Breeders, an Ireland based company.