UK egg producer Fridays sees profits soar
Eggs-c-Design-Pics-Inc-REX-Shutterstock-rexfeatures_5321159a Family owned Kent poultry business Fridays has seen pre-tax profits surge for the year ending last December.
Fridays, one of the UK’s largest egg producers, revealed a rise in pre-tax profits from £2.7m to £4.4m on the back of an increase in turnover from £48.8m to £53m in its annual report.
The company, which specialises in the production, packing, marketing and processing of eggs and other food products, said fluctuations in egg and feed prices had impacted on margins achieved and this was expected to continue into 2016.
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The directors are continuing to monitor then impact of Britain leaving the EU and how this was going to effect the industry in the short and medium term.
The Cranbrook-based company employs about 280 staff across a number of sites in Kent and supplies eggs under, among others, the BIG brand.
It produces 10m eggs a week across all categories supplying a range of multiples in branded and own-brand formats.
The firm announced in August that it would phase out all of its colony egg production to concentrate on free-range and barn egg production, planning to achieve this commitment by 2025.
It said this would require substantial investment in new buildings and facilities.