Fridays Limited has announced robust financial results for the year ended 31 December 2024, reporting a substantial increase in turnover and continued profitability despite industry challenges.
According to the company’s Group Strategic Report, turnover grew to £81 million, up from £71.3 million in 2023, a 14% increase. Gross margins held steady at 42%.
Fridays posted a post-tax profit of £10.29 million, up from £9.1 million the previous year. A dividend of £2.43 million was paid.
The report highlights that 2024 saw steady volume growth in the shell egg division, driven by strong customer demand and firm prices. Long-term supply agreements were renewed with key customers, protecting margins and ensuring stability. The company also noted that overhead costs were well controlled, reflecting ongoing emphasis on efficiency.
Fridays’ products division benefited from new customers and new products, contributing to revenue growth. Additionally, the company completed the acquisition of Hoads Farm, a local egg producer, expanding its capacity to meet increasing demand for free-range eggs.