Cobb Europe has reported a decline is sales and an increased annual loss in its latest financial results, covering the year to 1 October 2022.
Turnover decreased 14.7% year on year, to £25 million. This was due, the genetics company said, to a reduction in volume of product supplied to other parts of the business in the United States, plus the effects of avian influenza, which hampered trade.
The company reported a loss of £13.1 million during the years. This was a larger loss than the previous year, when the figure was £11.3 million.
Despite the losses, the company said it planned to grow its operations over the course of the next year.