Turnover at Cobb Europe declined 16.2% to £37.9 million in the year ending 28 September 2019, according to the company’s annual accounts, filed with Companies House.
Gross profit for the same period reduced 67.8% to £2.26 million. The pre-tax loss for the period was £4.1 million. For the same period in 2018, the company made a pre-tax profit of £1.45 million.
According to the report, the fall in turnover and profit was partly due to customer orders being supplied from alternative companies within the Cobb group. It was also a result of “being a full year without the third party contract grandparent hatchery which was renewed by a different company within the group part way through the prior financial year,” the report states.
The report states the new hatchery in Norfolk “encountered a few delays” during the year. It opened in December, the company said.