Annual sales at PD Hook have fallen to £78.3 million in the year to 31 October 2020, compared to £80.2 million in the previous year, according to its latest financial results.
The supplier of hatching eggs said the fall in sales was a consequence of disruption caused by the coronavirus pandemic. Profits were also affected. Operating profit during the same period was £648,000, compared to £1.37 million the previous year. Profits after tax were £226,000, compared to £835,000 the year before. The company said the figures reflected “the intense pressure on price in the market and the need to absorb rising costs within the business. A number of key commodities utilised in the business have risen alongside higher payroll costs.”
The company said it had continued to invest in its farming base, with more than £2.4 million spent on capital programmes. It has also acquired new or identified existing sites that are suitable for full redevelopment. The business therefore has a pipeline to bring on several new breeding and rearing farms to ensure there are sufficient hatching eggs to meet growing demand for day old chicks.