Profits slip at Noble Foods
Profits were down at the UK’s largest egg company in its latest financial results, for the year ending 30 September 2017.
Noble Foods’ posted a profit before taxation of £1.1m, compared with £5.57m in the previous period. Turnover was relatively flat at £328.4m.
In the strategic report, directors said they were “pleased” with the results, with the after-tax profit of £2.3m “as expected”.
Both “general competitive pressure” and avian influenza are cited as principle risks and uncertainties.
Noble Foods owns a wide range of well-known retail brands including the Happy Egg Co, Big & Fresh eggs and Gu puddings.
Also read: Noble launches straights business
Earlier this year, the firm committed to moving away from colony egg production after sustained campaigning from animal rights activists. It had been the target of undercover filming on its farms and a hatchery, which supplied it.
Join 31,000+ subscribers
Subscribe to our newsletter to stay updated about all the need-to-know content in the poultry sector, three times a week.
