2 Sisters Food Group has recorded an annual loss of £25.9m in its latest financial results covering the year to 1 August 2020. This is an improved result on the year before, when losses reached £69.3m.
2 Sisters Food Group is a wholly owned subsidiary of Boparan Holdings. During the course of the year, in November 2019, the company acquired the trade and assets from 2 Sisters Poultry, a fellow group subsidiary.
Turnover for the period was £1.275 bn, up 6.3% from the previous year. The company attributed this growth to the acquisition of trade and assets from 2 Sisters Poultry. The gross margin increased compared to the previous year from 3.4% to 8.8%, which the company said reflected improvements to operating performance.
The company said the COVID-19 pandemic had brought volatility and uncertainty to the business, specifically through the lack of labour caused by the requirement to self-isolate.
2 Sisters posts annual loss of £25.9m, an improvement on previous year
By Chloe Ryan
Chloe Ryan
Editor of Poultry Business, Chloe has spent the past decade writing about the food industry from farming, through manufacturing, retail and foodservice. When not working, dog walking and reading biographies are her favourite hobbies.