Revenue drops amid market fluctuations for Fridays
Turnover slid at Kent-based egg packer Fridays in its latest results, which account for the year to 31 December 2016.
Revenue was £49.1m, down from £52.9m in 2015, but final profits improved – up to £3.8m from £3.4m the previous year.
Directors said in their report that fluctuations in both the value of eggs and the price of feed had impacted on margins, and they expected this uncertainty to continue into 2017.
Brexit is also cited as a risk to the business, with directors saying they continue to monitor the potential influence on the industry in the short to medium term.
The packer also said it had committed to buying 27,591t of feed at an average of £174.22/t to hedge against future price fluctuations.
To comment, register here
Or register to be able to comment.