Annyalla Chicks has reported an annual profit after tax of £1.55 million in the year ending 31 December 2021. This is an increase on the previous year when profits reached £1.19 million.
The Wrexham based business reported a turnover during 2021 of £38.8 million, up from £37 million the year before.
The company said in its strategic report it had been able to mitigate the effects of rapid inflation by hedging a proportion of its feed costs through 2022, and had utility contracts in place across different areas of the business, which has shielded the firm from volatility in the energy market. It is also exploring solar energy options.
The company said it had increased prices in the first two quarters of 2022 to protect profit margins.
Director John Mawer wrote in the strategic report that despite inflation, demand for the company’s product was continuing and was well positioned for the year ahead.