Turnover has risen 58.6% at halal poultry firm Chesterfield Poultry. The Doncaster based firm grew sales to £119.7 million in the year to June 2018, according to accounts filed at Companies House on 12 March 2019.
The majority of the growth in sales is attributable to the establishment of a new subsidiary, Just Halal Poultry, formed in August 2017, the company said.
Profits before tax during the same period increased to £4.04 million during the same period, up from £2.4 million the year before, which the directors said was a satisfactory result given the increased volumes.
The principle risks and uncertainties facing the business is the cost of poultry, which continues to be affected by fluctuating feed prices at one end and the market price for the end product, affected by supply and demand.
In October 2018 a new company, Banham Poultry, was established to buy the assets of Banham Group, which went into administration. The accounts show that management decided to wind down Just Halal Poultry in January 2019 in order to focus on this new company.