ForFarmers has reported an annual profit of £1.6m in its latest annual results, covering the year to 31 December 2020. The feed company made a loss of £8.9 m during 2019. Turnover during 2020 was £524 m, less than in 2019 when the figure was £564 m.
ForFarmers said in the report it had suffered no major operational difficulties due to Brexit during 2020, nor since Brexit became effecting on 1 January 2021. It said there were still uncertainties however, especially around exchange rate fluctuations. It noted there was scope for poultry production to increase in the UK, but this would depend on farmers’ willingness to invest.
ForFarmers returns to profit
By Chloe Ryan
Chloe Ryan
Editor of Poultry Business, Chloe has spent the past decade writing about the food industry from farming, through manufacturing, retail and foodservice. When not working, dog walking and reading biographies are her favourite hobbies.