2 Sisters Food Group has reported an increase in turnover in its latest annual report, covering the 52 weeks ending 27 July 2024.
Turnover increased from £1.52 billion in the year ending 2023, to £1.61 billion in the year ending 27 July 2024. During the same period, profit margins increased from 8.2% to 14.9%. The business returned to profitability during the year, reporting pre-tax profits of £54.5 million, up from a loss of £75.1 million in 2023.
The company’s directors said the increase in turnover reflected higher sales volumes that more than offset feed costs. Also during the course of the year, Amber Foods, another company in the Boparan Holdings group, hived its trade and assets into 2 Sisters Food Group.
During the year, the company managed inflation in labour costs and other overheads with price increases negotiated with its customers.