Annyalla Chicks reports increased profit margins in annual results

Annyalla Chicks has reported an increase in profits in its latest annual results covering the year ending 31 December 2020.
Profits rose in 2020 to £1.36 m, after tax, compared to £91,758 the year before. The company said changes to its production methods had enabled it to cut unit costs, and drive up profit margins from 17% in 2019 to 20% in 2020. Turnover for 2020 was £37 m, down from £39 m in 2019. 
The Wrexham based supplier of day old chicks and hatching eggs said it had focussed on cost reduction and efficiencies across all its sites in order the manage the changes brought about by Brexit. The company had successfully adopted new legal, customs and export requirements with little interruption to the business, it said.
Accessing enough labour continued to be difficult, the annual report states, with low unemployment and the furlough scheme continuing to support individuals affected by the pandemic. However, the company said it was aiming to mitigate this through automating more processes and retaining existing staff with good remuneration and incentive packages.