Poultry business Jack Brand has reported an operating loss in its most recent financial results, covering the year ending 30 September 2021.
The company’s operating loss reached £871,030, an increase on its operating loss in the previous year, which was £351,948. Turnover for the year was £17.3 million, compared to £42.7 million in 2020. Gross profit for the year was £1.39 million.
The directors said that the company’s key performance indicators were sales and cash generated, and as such the performance for the year was ‘poor’, but said circumstances had been exceptional and largely beyond its control.
The rising cost of grain, the continuing impact of the pandemic, the effects of Brexit and the death of director Graham Brand all contributed to a ‘challenging year’ the strategic report said.
However, trading since the year end has been encouraging, the company said, and it has since returned to profitability.