Norfolk-based processor Banham Poultry has seen a “significant turnaround” in profits, posting earnings before tax of almost £500,000 compared with a loss of £135,228 in the previous year.
The company, in accounts filed up to the end of September 2013, put the growth down to “increased turnover and efficiencies introduced by the directors”. The profit is set against a turnover just shy of £100m, up 10% when compared with 2012.
In 2012 the company brought in new executives, restructured the business and sought to introduce new customers, following what it described as a “disappointing” 2011. It has previously sold assets such as a composting business to focus on chicken production.
Banham Poultry was set up as a subsidiary of Banham Group in 2010. Its website says the firm processes about 650,000 birds a week.
“The company continues to work closely with customers to introduce new products and initiatives to satisfy consumer demand and further grow the business,” said the accounts’ strategic review.
The four directors’ remuneration also grew, from £150,719 in 2012, to £170,700 last year.