Turnover at The Lakes Free Range Egg Company has grown by more than £10m in the past year, according to the company’s latest financial results.
In the year to 31 October 2020, sales grew to £45.8m, up from £33.5m in the previous 12 months. Profit after taxation were £990,931, less than in 2019 when the figure was £1.25m.
Directors David and Helen Brass run the family owned company, which produces and packs free range and organic eggs. As a supplier of a staple food, the company fared relatively well during the pandemic, the report states, and the lockdowns have not significantly affected the company’s ability to trade. The increase in price of eggs during spring 2020 had a negative effect on margins during this period, the company said, but egg prices have since fallen back and the company achieved strong margin and revenue growth during the second part of the year.